Adaro Energy update: Maritim Barito Perkasa

The following is an edited excerpt from IDX-listed energy firm PT. Adaro Energy 's quarterly report released on Wednesday. (ed)

PT Maritim Barito Perkasa (MBP)

MBP is a key barging and shiploading contractor for AI. During the second quarter of 2013, coal volume from AI accounted for 94% and 100% of MBP?s total coal barged and coal loaded to ships, respectively. A y-o-y increase of 45% to 6.81 Mt over 2Q12 was due to the higher availability of floating cranes, MBP receiving additional volumes from AI when another of AI?s third party contractor?s term expired in 2012, and an increase in third party barging volume, following the commissioning of a power plant in Cirebon, Indonesia.

MBP received delivery of a new floating transfer unit (FTU), two 15,000 DWT barges, and three tugs in the second quarter of 2013, with a total investment of US$40.6 million. The FTU will perform shiploading activities at a rate of approximately 60,000 tonnes per day or approximately 16 Mt per year compared to a standard floating crane of 15,000 tonnes per day. This will allow MBP to discharge a barge in about five hours compared to 18 hours using a floating crane, which will ultimately further improve cycle times and efficiency. (end of edited excerpt)

Maritim Barito Perkasa
?	?	Actual?	Quarter on Quarter		Year on Year
?	Units	2Q13	1Q13	% Change	2Q12	% Change
Total Coal Barged	Mt	6.81	5.99	14%	4.68	45%
Adaro	Mt	6.40	5.66	13%	4.47	43%
Others	Mt	0.40	0.33	23%	0.20	102%
Total Coal Loaded	Mt	4.60	3.69	25%	4.17	10%
Adaro????	Mt	4.60	3.69	25%	?4.17	10%
Others	Mt	-	-	NA	-	NA