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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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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
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