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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, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
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