Arpeni spends $82m for 2 ships

Indonesia-listed shipping lines PT Arpeni Pratama Ocean Line Tbk (APOL) has purchased two vessels from China for US$82 million.

?We bought two ships. Each ship is of 76 dead weight ton (dwt) and priced US$41 million,? President Director Oentoro Surya said during a public expose in Jakarta, adding that the ships will arrive within the next two weeks.

The purchase was financed mostly by loans. ?The composition (of the funding) is 80% loans and 20% own equity. The interest of the loan, including swap, is around 6 percent,? he said. The loans, which came from UOB Singapore and Southern East Bank, carry a 10-year maturity.

Oentoro expects the arrival of the new ship would strengthen the company?s operation, which now gives more focus on servicing natural resources-based industries. ?We are focusing on energy resources, for example the booming coal sector.?

Recently, the company also received two ships it ordered last year. (*)