Arpeni completes acquisition of eight panamaxes

Indonesia?s top dry bulk shipping firm PT.Arpeni Partama Ocean Line Tbk. said on Tuesday it has completed acquisition of eight panamaxes vessels until August this year and one more to go to meet vessel purchase target for this year.

CEO Oentoro Surya said as quoted by Kontan daily that Arpeni had spent up to US$90 million to purchase the vessels.

Another vessel would be acquired in November, he said.

Oentoro said Apreni aimed to increase coal shipping volume to 15 million tonnes this year from 12 MT last year following the acquisition.

Arpeni is currently Indonesia?s domestic coal shipper. (*)