Marco Polo secures 4-year coal transshipment contract
Monday, April 5 2010 - 03:41 PM WIB
Marco Polo secures 4-year coal transshipment contract
Singapore Exchange-listed marine logistic group Marco Polo Marine Ltd announced on Monday that its wholly-owned subsidiary Marco Polo Shipping Co Pte Ltd (MP Shipping) has secured a 4-year coal transshipment contract worth about US$20 million with an undisclosed Indonesian coal owner.
The contract will commence from June 2010, the Company said without giving further detail.
In accordance with Indonesian cabotage rules, which require transportation of coal to be carried out in Indonesian waters be provided by Indonesian-flagged vessels, MP Shipping will provide the transshipment services through the deployment of its fleet of Indonesian-flagged vessels, it said. (alex)