Logindo buys new AHTS vessel

IDX-listed shipping company PT Logindo Samudramakmur Tbk has acquired a new AHTS vessel worth US$22.5 million from Batam-based PT Marcopolo Shipyard, Kontan daily reported on Saturday.

The paper quoted Logindo President Director Eddy K. Logam as saying that the new vessel expanded the company?s total number of offshore support vessels to 61.

Eddy said that the new AHTS vessel will be leased out for seven months to oil and gas firm PT Total E&P to support the latter?s exploration activities at Mentawai Block in Bengkulu.

This is the second vessel the company acquired so far this year. In February of this year, it acquired an AHTS vessel from Bharati Shipyard in India for $28 million.

Logindo, which has allocated $80-100 million of capital expenditure this year, plans to acquire two or three additional vessels this year, depending on whether the company obtains new contracts, said Finance Director Sundap Carulli. (*)