Harbor Star to enter RI

Harbor Star Shipping Services Inc., a leading provider of harbor assistance, lighterage, salvage and towing services in the Philippines, is investing US$10 million to expand its business in Indonesia, a report said Thursday.

Harbor Star chairman Geronimo Bella Jr. told the Manila Standard Today that the company was in talks with an Indonesian firm with existing contract with a coal power plant company for the transport of coal.

Under the plan, Harbor Star will provide additional 10 tugboats to transport coal within Indonesia.

Bella said a meeting was set next week to finalize the agreement. A project finance through Indonesian banks is being considered to partly cover the investment.

If the negotiations pushes through, Indonesia will be second Southeast Asian country that Harbor Star will penetrate, after Malaysia. Bella said the company was also looking at Vietnam as another expansion area.

Harbor Star maintains a fleet of 28 classed tug boats, three barges, a cargo vessel, an oil spill response vessel and an anchor handling tug supply vessel. It has established operations in 12 base ports all over the country. (*)