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Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
 State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project is likely to rise by more than 10 percent, a source close to the project told the Jakarta Globe.
Bukit Asam and its partners are trying to negotiate a new price with the contractor, and as a result construction may not begin until the second quarter of this year, the source said over the weekend.
Bukit Asam president director Sukrisno confirmed on Sunday that the project faced more delays and that the cost would rise, but he declined to confirm the 10 percent figure.
“We are finalizing the EPC [engineering, procurement and construction] contract with [contractor] China Railway. If it’s not finalized then we can’t start,” Sukrisno said. “There has been an increase in the project value, and therefore we have to evaluate and negotiate first.”
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"Transpacific Railways and China Railway Engineering formed a joint venture company — PT Bukit Asam Transpacific Railway — to develop $1.06 billion rail project in Sumatra"
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Bukit Asam hoped that it could solve the issue with the contractor and start construction this quarter, Sukrisno said.
The project involves the construction of a 300-kilometer railway from Bukit Asam’s Banko coal concession in South Sumatra to the port of Srengsem in Lampung.
It was originally announced in 2006. The following year Bukit Asam, Transpacific Railways and China Railway Engineering formed a joint venture company — PT Bukit Asam Transpacific Railway — to develop the project. Bukit Asam has a 10 percent stake, Transpacific 80 percent and China Railway the remaining 10 percent.
However, the project has faced delays because the government did not issue implementing regulations for the 2007 Railway Law until October.
“The companies in the consortium are negotiating with China Railway about the new price of the project,” the source said. “Based on both parties’ calculations and a hired mining consultant from Australia, the project value has increased by more than 10 percent. It should be finalized by the end of February but the project’s construction may not start until the end of the first quarter or early in the second quarter.”
Completion of the project would mark the first time private investors have held a controlling stake in a railway since state-owned railway operator PT Kereta Api took over the nation’s railways in 1963. The 2007 Railway Law rolled back Kereta Api’s monopoly on the country’s rail network.
Discussing financing of the project, Sukrisno said the joint venture had finalized arrangements with the Export-Import Bank of China this month.
“China Exim Bank has committed to finance 85 percent of the project, up from 70 percent previously,” he said.
The rail project will allow Bukit Asam to significantly boost output from its Banko mine. Currently, the mine produces around 11 million to 12 million tons of coal a year.
If the rail project is completed by 2013 as scheduled, coal output could be increased by 5 million tons in 2014, 10 million tons in 2015 and 22 million tons in 2016, Sukrisno said.
Source: The Jakarta Globe
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Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
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