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Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
 PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture with MEC Coal and MEC Infra, subsidiaries of Dubai-based MEC Holdings, and the Ras Al Khaimah Investment Authority.
“We’re in preliminary talks with MEC to find ways to cooperate because both companies have mine sites near Muara Wahau, East Kutai district, East Kalimantan,” said Jeffrey Mulyono, president director of Bhakti Energi. “It’s not decided yet but it could be a joint venture on transportation and coal sales.”
MEC and Ras Al Khaimah are planning a $5.2 billion integrated energy project in East Kalimantan, including a coal railway.
“MEC plans to purchase some of our coal while we hope we can transport our coal through their railway, too,” he said.
Jeffrey added that the cooperation will be focused on meeting the growing demand for coal from India’s power plants, where Bhakti Energi’s brown coal, which is low-grade coal, is used as a blending ingredient for higher-rated thermal coal.
Indonesia is the world’s fourth-biggest exporter of thermal coal. Of the 254 million tons produced last year, 78 percent was exported, mostly to China and India, the world’s two biggest importers.
This year, output from Indonesia’s coal producers is expected to total 280 million tons.
MEC Holdings is a subsidiary of the Dubai-based Trimex Group, which invests in the energy and mineral sectors. In December, it announced plans to invest $5.2 billion in East Kalimantan along with Ras Al Khaimah and India’s largest aluminum producer, National Aluminium Co. The development will include 130 kilometers of railway to transport coal and crude palm oil, a coal terminal, aluminium smelter and power plant.
Bhakti Energi is controlled by Benny Subianto and Teddy P Rachmat, two Indonesian businessmen who also hold stakes in the country’s second-biggest coal producer, PT Adaro Indonesia.
The company has eight subsidiaries, of which seven are located in the Muara Wahau district, with total estimated coal reserves of 5.7 billion tons.
“All of Bhakti Energi’s concessions in Muara Wahau are currently undergoing pre-production preparations as the company plans to spend at least $200 million in capital expenditure this year to build our infrastructure and heavy equipment,” Jeffrey said.
He said the company would produce 1.4 million tons a year by next year and two million tons by 2012.
“The company is ideally looking for an investment of at least $1.2 billion up until 2012,” Jeffrey said.
MEC Coal’s subsidiary, PT Tekno Orbit Persada, has two mines in Muara Wahau with two billion tons of proven coal reserves. It expects to start production this year and to be selling 32 million tons a year by 2015.
When contacted by the Jakarta Globe, Mashael Al Naimi, head of corporate communications for MEC, wrote in an email that at the current time MEC had no intention forming joint ventures with other companies in East Kalimantan.
Edwin Sinaga, president director of brokerage firm PT Finacorporindo Nusa noted that international companies generally deny the existence of deals before they have been completed to avoid confusion in the market.
Source: The Jakarta Globe
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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
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- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
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- Mjunction Services Limited - India
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- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
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- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
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- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
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- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- The University of Queensland
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
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