Arpeni boosts coal fleet

JSX-listed shipping firm PT.Arpeni Pratama Ocean Line Tbk. will boost coal shipping capacity to 15 million tonnes this year from 12 million tonnes last year by purchasing additional vessels to its existing fleet.

CEO Oentoro Surya told reporters and analyst in a briefing Wednesday that the company would spend US$100 million this year to buy 2 used panamaxes, up to four sets of tugs and barges and one floating crane all of which would be delivered this year he said, adding that vessels, except for tugs and barges are used ones.

Arpeni would source 70 percent of the funds required from bank loans, said Oentoro.

Arpeni is currently Indonesia’s largest domestic coal shipper, which coal transportaion revenue accounts up to 70 percent of the company’s total revenue in 2006.

Finance Director Ateng Suhendra said that Arpeni has contracts with Indonesia’s leading coal suppliers such as PTBA (4 MT for 3 years), Adaro Indonesia (3MT for 3 years) Indominco (2MT, 2 years), Berau (3MT, 2 years), mostly to transport coal to Indonesia Power’s Suralaya 3,400-MW power plant in Banten. (denny/bernard)