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Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
 COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Central Java. BPI is owned by a consortium of Electric Power Development Co., Ltd. (J-Power) – PT Adaro Power (AP) – Itochu Corporation (Itochu).
President Director of PT Adaro Energy Tbk (AE), Mr Garibaldi Thohir, remarked “We are pleased to achieve this significant milestone. Despite the delay, we are thankful for the support from PLN, all sponsors, lenders, government institutions and other stakeholders. We expect that the process will move forward as planned, and we are excited as we are now closer to our vision to be a leading Indonesian mining and energy group and establishing one of our engines of growth.”
According to PT Adaro Energy Tbk's disclosure to the Indonesia Stock Exchange and the OJK, total investment for this project cost is around US$ 4.2 billion, and BPI will receive project funding of approximately US$3.4 billion from the Japan Bank for International Cooperation (JBIC) and a syndication of nine commercial banks: SMBC, BTMU, Mizuho, DBS, OCBC, Sumitomo Trust, Mitsubishi Trust, Shinsei and Norinchukin.
According to PT Adaro Energy, this project will sell electricity to PT Perusahaan Listrik Negara (Persero) (PLN) under a power purchase agreement (PPA) for 25 years from the completion of construction, the PPA between BPI and PLN was signed on October 6th, 2011.
The Government of Indonesia through the Ministry of Finance, the Indonesia Infrastructure Guarantee Fund (IIGF) and BPI have signed an agreement to guarantee the payment from PLN to BPI as stipulated in the PPA. IIGF is an institution established by the Government of Indonesia to provide guarantee for government institutions participating in public private partnership (PPP). This project is Indonesia’s first PPP project to receive IIGF’s guarantee.
President Director of BPI, Mr Mohammad Effendi, said “After the financial close, construction of the power plant should immediately begin. Construction is estimated to take approximately four year and COD is expected in 2020.”
This power plant will be one of the largest IPP in Asia and is the first coal-fired power plant project to use the environmentally friendly ultra-supercritical (USC) technology in Indonesia. The USC uses steam temperatures and pressures above the supercritical point of water which allows lower fuel consumption per kilowatt hour (KwH) and reduce specific CO2 emissions.
The disclosure further noted that, this project has been delayed for several years due to difficulties related to land acquisition. Early this year, through the implementation of Law No.2/2012 regarding Land Procurement for Development in the Public Interest, BPI and PLN had been able to secure all the required land and this has made BPI the first Independent Power Producer (IPP) to have successfully implemented Law No.2/2012.
Despite the delay, all partners remain committed to the project and all the stakeholders involved including the government of Indonesia, PLN and the creditors remain committed to the project from the beginning. The Engineering, Procurement and Construction (EPC) contractors selected for this project are Mitsubishi Hitachi Power Systems, Ltd for the offshore portion and Sumitomo Corporation for the onshore portion.
Operation & Maintenance of the power plant will be conducted by BPI. From the beginning of construction and throughout its operation, BPI will contribute significantly to the social and economic development of Indonesia, particularly the Batang Regency and Central Java region, through job creation and numerous social development programs to create shared value between BPI and the community. One example, in order to overcome the impact of land acquisition, BPI has given social compensation to affected farmers and prepared replacement land to solve the changes in livelihood method. BPI has also carried out several community development programs and will continue to improve its programs for the development of a self sustaining society.
 About PT Bhimasena Power Indonesia
PT Bhimasena Power Indonesia (BPI) is a consortium of Electric Power Development Co., Ltd. (J-Power) (34%), PT Adaro Power (34%) and Itochu Corporation (Itochu) (32%). PT Adaro Power is a wholly-owned subsidiary of PT Adaro Energy Tbk.
The 2x1,000 MW power plant is located in Batang Regency, Central Java. It is the first infrastructure project under the public private partnership (PPP) structure and will apply the Build, Own, Operate, Transfer (BOOT) scheme. This project is part of the Master Plan for Acceleration and Expansion of Indonesia Economic Development and will lead economic development in Java. The 2x1000 MW power plant is also part of the 35,000MW program inaugurated by President Joko Widodo, a national strategic plan to meet Indonesia’s growing electricity demand. This project will use the more efficient and environmentally-friendly Ultra-Super Critical technology.
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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
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- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
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- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
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