Kideco, MBSS sign 5-year coal transshipment deal
Thursday, January 3 2013 - 01:01 AM WIB
East Kalimantan coal miner PT Kideco Jaya Agung (KJA) and IDX-listed barging and transshipment firm PT Mitra Bahtera Segara Sejati Tbk, (MBSS) have signed US$57.8 million worth of 5-year coal transshipment agreement to provide coal transshipment services in Padang Bay by operating one unit of floating crane (FC) Vittoria.
Under the contract, MBSS will transship a minimum guaranteed tonnage of 5 million tons per annum. In the 60th month or 84th month of the contract period, KJA has options to purchase the vessel used accordingly in the agreement (FC Vittoria).
The contact also stated that it can be extended for another period of two years.
FC Vittoria had arrived in the project?s location for preparation and testing at the end of Nov. 2012.
Editing by Er Audy Zandri