Forestry fee PT. Bayan Resources Tbk - Prospectus
Schedule 571 PT BAYAN RESOURCES AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2008 AND 2007 AND 31 DECEMBER 2007, 2006 AND 2005
Expressed in million Indonesian Rupiah, unless otherwise stated
28. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued j. Coal shipping and hauling contracts
The Company On 2 October 2006, the Company entered into a coal shipping contract with PT Pelayaran Segara Niaga
Utama “PSNU” for the period 1 January 2007 until 31 December 2007. On 5 November 2007, this contract was extended until 31 December 2008, and on 19 March 2008, this contract was terminated.
On 18 December 2007, the Company entered into a coal shipping contract with PSNU for the period January 2008 until December 2008. On 11 March 2008, the Company amended this agreement to change the
terms related to coal quantity shipped and contract period until 31 December 2012. The total quantity to be shipped for five years is 29.5 million MT with a tolerable variance of 20.
GBP On 5 December 2006, GBP entered into an agreement with PSNU, which was extended on 5 February
2008 for a period of one year from 1 January 2008 to 31 December 2008, for coal deliveries by sea from the Company’s concession area to the BCT. On 19 March 2008, GBP amended this agreement to change the terms
related to coal quantity shipped, contract period and tariff. This agreement is valid for 5 years. Total quantity to be shipped for five years is 5.8 million MT with a tolerable variance of 20.
PIK On 3 December 2007, PIK entered into a coal transportation and transshipment agreement with PSNU
for a total coal transport volume of 1.8 million MT with a tolerable variance of 20. This agreement commenced on 3 December 2007 and is valid for a period of one year or until the
agreed coal transport volume is achieved, whichever is later. On 19 March 2008, PIK terminated this agreement effective 11 March 2008. On the same date, PIK entered into a new coal shipping agreement with PSNU for the
period 11 March 2008 until 31 December 2012 under which the tariff to be used is based on Free In StowedOut and Trimmed “FIOST”. The total quantity to be shipped for five years is 13 million MT with a tolerable
variance of 20.
TSA On 8 November 2007, TSA entered into a coal shipping agreement with PSNU related to coal loading
and transportation from the loading port to the coal terminal. This agreement is valid until 31 December 2012 under which the tariff to be used is based on FIOST. On 19 March 2008, TSA amended this agreement to change
the terms relating to coal quantity shipped. The total quantity to be shipped for five years is 11.6 million MT with a tolerable variance of 20.
WBM On 3 August 2007, WBM entered into an agreement with PT Lian Beng Energy, a related party, to
provide coal hauling services for 5.75 million MT of coal. The agreement is valid until 1 October 2009 or until the targeted production is reached, whichever is earlier. This agreement was amended on 12 November 2007 to
increase the coal tonnage by 9 million MT.
On 19 March 2008, WBM entered into a coal shipping agreement with PSNU for the period 1 January 2008 until 31 December 2012. The total quantity to be shipped for five years is 32 million MT with a tolerable
variance of 20 and the tariff used is based on FIOST.
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Schedule 572 PT BAYAN RESOURCES AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2008 AND 2007 AND 31 DECEMBER 2007, 2006 AND 2005
Expressed in million Indonesian Rupiah, unless otherwise stated
28. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued j. Coal shipping and hauling contracts continued
FKP On 19 March 2008, FKP amended its coal shipping agreement with PSNU which was previously
entered into on 11 February 2008 to change the terms related to coal quantity shipped. The total quantity to be shipped for five years is 11.3 million MT with a tolerable variance of 20 and the tariff used is based on FIOST.
This agreement is valid for 5 years.
IP On 7 January 2008, IP entered into a coal transshipment agreement with PSNU for the period 1 January
2008 until 31 December 2012.