Bayan Resource?s unit signs deal to buy a new coal vessel
Thursday, August 18 2011 - 10:28 AM WIB
A shipping unit of IDX-listed PT Bayan Resources Tbk has signed a deal with Favor Sum Investment Limited to buy a coal vessel worth US$55.4 billion on cost, insurance and freight (CIF) basis, the company said in a statement on Thursday.
Under the agreement signed on August 16, Favor Sum will build the vessel in Dalian, China and will deliver it to PT Muji Lines by end of November 2012, the company said.
The vessel will be used as Bayan?s second floating coal terminal, the company said, adding the purchase is part of its capital expenditure plan to improve logistics and infrastructure. (romel)