Arpeni to further expand coal fleet

Indonesia?s top coal shipper PT.Arpeni Pratama Ocean Line Tbk. plans to further boost its fleet by acquiring vessels next year.

CEO Oentoro Surya was quoted by media that the company will expand its fleet to increase capacity by 20 percent to ship 18 million tonnes per annum (MTPA) of coal next year. He did not give further detail.

This year the company had completed acquisition eight panamaxes that boosted the the company?s fleet capacity to transport coal from 12 MTPA to 15 MTPA.

Surya said the company is considering to issue USD denominated bonds to finance the acquisition of new vessels.(*)