IBT sees strong demand for its service

Australian listed company New Hope Corporation Limited reported on Tuesday that its Indonesian coal terminal unit PT. Indonesia Bulk Terminal (IBT) handled 7.4 million tonnes of coal during August 2003-July 2004 period, slightly higher than previous year?s throughput of 7.2 million tonnes.

?IBT is facing strong demand from third party (non Adaro) coal mines to handle tonnage for export. Operations are under review to determine how best to cater for increased throughput and demand as well as provide consistent services to regular clients like Adaro,? the company said in its annual report.

NHC also reported that IBT has retired its entire bank debts in August 2004.

IBT operates a coal terminal in Pulau Laut off South Kalimantan. Its major client is its affiliated company South Kalimantan coal producer PT. Adaro Indonesia. Adaro shipped some 6 million tons of coal from IBT last year. Other clients are Arutmin Indonesia, Bahari Cakrawala Sebuku, Aspac Coalindo and Marunda Graha Minerals. (alex)