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Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
 COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state owned electricity producer and distributor) to supply 262.2 million ton of coal for 20 years. According to company's note received by COALspot.com, mixed quality of coal such as calorific value of 4200 kcal/kg (GAR basis), 4700 kcal/kg GAR and 4900 kcal/kg GAR will be supplied on FOB Tarakan to PLN under the new agreement signed Yesterday.
Indonesian government declared coal reference price will be used to supply total quantity. Based on current Indonesian coal reference price (HBA), the total value of the contract is around US$ 16,140,639,457 (IDR 157 Trillion). President Director of PTBA, Milawarma and President Director of PT PLN, Nur Pamuji on Tuesday 26 March 2013, signed this high value coal sales and purchase agreement in Jakarta.
PTBA said, the annual coal supply will increase on a year basis, in line with the progress of the completion of the 10,000 MW Phase 1. PTBA will supply 2.45 million tons of coal in 2013 and it will be increased gradually up to 23.40 million ton per annum by 2030.
PTBA and PLN have agreed to determine the price of coal on yearly basis using Indonesian government declared coal reference price and the railway cost per ton from Tanjung Enim mine site to Tarahan Port. All contracted quantity will be supplied on FOB Tarahan basis.
According to PTBA, the company has signed total 537.50 million tons of coal supply contracts since 2012 until March 2013 with various utilities in Indonesia.
By signing the latest 262.60 million tons of coal sales and purchase agreement with PLN, PTBA has concluded to sell 537.5 million tons of coal to Indonesian power plants as well as fertilizer plants. In addition to a sales agreement with PT PLN, PTBA has also concluded to supply 51.80 million tons of coal to PT. Indonesia Power ( another subsidiary of PLN) for 10 years starting from 1 January 2013 until 31 December 2022.
PTBA will supply coal with calorific value 5000 kcal/kg on GAR basis on FOB Tarahan Port to PT. Indonesia Power.
In year 2012, PTBA has signed 223.1 million tons coal supply agreement. PTBA agreed to supply , 150 million tons of coal for 25 years or around 6 million tons coal annum to PT. Huadian Bukit Asam Power for its 2 X 620 MW Banko Tengah Power Plant, located near to Banko Mine, Tanjung Enim, Sumatra.
In the same year, PTBA has also signed an another agreement to supply 68.60 million tons of coal for 30 years to PT. Pupuk Indonesia Holdings which owns number of fertilizer plants in Indonesia. An another 4.5 million tons coal supply contract has been signed with PT. Sumber Segara Primadya, which operates a power plant in Cilacap in Central Java.
About PT. Bukit Asam
The coal mining in Tanjung Enim was initiated by the Dutch Colonial Government in 1919 by operating the first coal mine using open pit mining method in Air Laya. Using underground mining method, initial operation commenced in 1923 and lasted until 1940, while commercial production began in 1938.
When the Dutch Colonial period ended in Indonesia, the mining workers fought for the nationalization of the mines. In 1950, the Indonesian Government approved the establishment of State-Owned Bukit Asam Coal Mine or Perusahaan Negara Tambang Arang Bukit Asam (PN TABA).
In1981, PN TABA converted its status to a limited liability company under the name of PT Tambang Batubara Bukit Asam (Persero) Tbk, further called the Company. To develop coal industry in Indonesia, in 1990 the Government merged Perum Tambang Batubara with the Company.
In line with the national energy security development program, in 1993 the Company was assigned by the Government to develop coal briquette business. On December 23, 2002 the Company became a publicly listed company on the Indonesian Stock Exchange under the code of “PTBA”. (Source: company’s website)
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Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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