ASL Marine says E. Kalimantan floating coal terminal operational H1, 2006

Singapore-based ASL Marine Holdings Ltd said Thursday the 65,000 dwt floating coal terminal pontoon, which will be chartered to East Kalimantan coal terminal operator was expected to be completed and operational by the end of first half of next year, or about six months later than it earlier announced.

ASL Marine?s 50 percent-owned company ASL Energy Pte Ltd has signed a 10-year charter contract with East Kalimantan-based coal terminal operator PT Dermaga Perkasapratama to charter its 65,000 dwt floating coal terminal.

ASL Marine said Dermaga will use the floating terminal for the unloading of coal from the barges; storage of coal; and subsequent loading of coal onto ocean-going vessels.

Charter rate is about US$5 million per 12-month period and the contract can be extended for another 10 years subject to mutual agreement between the two parties.

Dermaga is the operator of Balikpapan Coal Terminal. The company has planned to expand its coal throughput capacity to 14 million tons per year in 2006 from the current capacity of 9 million tons. (alex)