JAKARTA: PT Djakarta Lloyd (Ltd) collects the realization of State Electricity Enterprise's (PLN) commitment to give them a contract on the transportation of five million tons of coal to cater to the need of several coal-fired power plants in Indonesia.
Acting President Director of PT Djakarta Lloyd (Ltd) Bambang Sudarsono revealed the commitment was supposed to be realized following the signing of the MoU on coal transportation in September 2010. However, he said, the company had not been given certainty as to when the contract would be signed. "The partnership is part of the synergy among state-owned enterprises (SOEs) and of efforts to restructure PT Djakarta Lloyd," he told Bisnis yesterday. He admitted several strategic investors that were about to provide sea transportation modes, such as tug and barge boats and bulk carriers, were still waiting for the contract certainty. According to him, the coal transportation contract, which was prepared to rescue the company from bankruptcy, was scheduled to be signed in September 2010. Based on the plan, the company will supply coal to four coal-fired power plants, namely Labuan power plant in the Province of Banten, Labuan Angin power plant in North Sumatra, Pacitan power plant in East Java and Pelabuhan Ratu power plant in West Java. The 2x300 MW Labuan power plants in Banten will need a coal supply of 1.90 million tons per annum, while the 2x200 MW Labuan Angin power plants in North Sumatra will require a coal supply of 0.5 million tons per annum. In the meantime, the 2x300 MW Pacitan power plants and the 3x300 MW Pelabuhan Ratu power plants will require a coal supply of 1.9 million tons per annum and 2.86 million tons per annum, respectively. The contract value has not yet been identified. However, based on the current freight of IDR110,000 per ton, Djakarta Lloyd is estimated to raise IDR550 billion from the contract. To prepare the coal transportation, the SOE will prepare six handymax bulk carriers, each of which has a capacity of 50,000 tons. The carriers will be prepared by joining hands with domestic as well as foreign bulk carrier operators, with an option that the chartered carriers can be bought later. However, since the ports at several coal-fired power plants are designed to accommodate barge boats, PT Djakarta Lloyd has to seek strategic investors that can supply barge boats Bambang explained the SOE targeted the coal transportation sector to represent 20% of the SOE's total revenues. (wiw)
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