MBSS, ITM agree to not extend transshipment services
Friday, April 12 2013 - 03:03 AM WIB
IDX-listed Integrated coal transport & logistics services provider PT Mitra Bahtera Segara Sejati Tbk (MBSS) and IDX-listed coal mining group PT Indo Tambangraya Megah (ITM) have agreed to not extend a transshipment services contract, which expired in Feb. 2013, an industry source told Petromindo.com.
Both parties have failed to agree on some issues during the negotiation, the source said without giving details.
Under the previous 18-month contract starting Aug. 20, 2011, ITM should provide a minimum quantity of 3.5 million tons cargo, which distributed equally for the first 12 months and prorated for the last 6 months.
All ITM?s coal units, namely PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin, PT Jorong Barutama Greston, PT Bharinto Ekatama and Banpu Minerals (Singapore) Pte Ltd. used MBSS transshipment services in Bontang Anchorag, which operates two floating cranes.
Editing by Reiner Simanjuntak