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Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
 The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to help it build the proposed $1.06 billion coal-transportation railway in Sumatra unless its existing joint venture starts work by April.
Bukit Asam formed a joint venture with privately owned PT Transpacific Group and China Railway Engineering Corp. to build the railway but little progress has been made over the past two years.
“They [Bukit Asam] reported that the deadline to start the project is April. If they miss the target then they have to search for another partner because the current [joint-venture] contract will end in April,” Mustafa Abubakar, the minister for state-owned enterprises, told reporters on Friday.
Transpacific owns 80 percent of the shares in the joint venture, PT Bukit Asam Transpacific Railway, with Bukit Asam and China Railway Engineering both holding 10 percent.
A source close to the joint venture claimed that Transpacific had been unable to find financing and that Bukit Asam had been forced to secure financing alone, holding up progress.
It has been widely reported that tycoon Prajogo Pangestu acquired Transpacific late last year. No-one from Transpacific was available to comment.
Mustafa hinted that there is an investor from China waiting on the sidelines if the deal with Transpacific falls apart. However, he declined to disclose the name of the investor.
The Sumatra railway project is the key to increasing Bukit Asam’s coal production.
“It will double Bukit Asam’s production of because of the enhanced transportation of the coal,” Mustafa said.
Mustafa said the lengthy delay in starting the project has caused costs to escalate but he declined to disclose figures.
Last month, a source close to the project told the Jakarta Globe that further delays would see the cost of the project rise by more than 10 percent. Bukit Asam president director Sukrisno confirmed on Sunday that the project faced more delays and that costs would rise but he declined to confirm the 10 percent figure.
“We are currently finalizing the EPC [engineering, procurement and construction] contract with China Railway Engineering. 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.”
He added that he hoped to resolve the negotiations with China Railway Engineering and begin construction this quarter.
The project involves the construction of a 300-kilometer railway from Bukit Asam’s Banko coal mine in South Sumatra to the port of Srengsem in Lampung. Plans for the railway were originally unveiled in 2006.
The project initially faced delays because the government did not issue implementing regulations for the 2007 Railway Law until October. 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.
Source: The Jakarta global - By Yessar Rosendar
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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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