Mitrabahtera secures coal transportation contract

IDX-listed shipping and logistics company PT Mitrabahtera Segara Sejati Tbk has secured a contract for the transportation of coal from a local mining company, Kontan daily reported on Saturday.

Rico Rustombi, the president of Mitrabahtera, a part of Energy Group, said in Jakarta on Friday that the company would transport coal of about 2.4 million tons a year which would also be involving a floating crane, under an annual contract worth between US$5 million and US$6 million.

He, however, declined to disclose the name of the coal miner, saying that the contract would be signed soon. Rico said that the contract would begin in January next year and would end in December in the same year.

As of the end of the first quarter, this year, Mitrabahtera had transported 14.7 million tons of coal. Of the total, about 9.1 million tons were transported using ordinary barges and the other 5.6 million tons were transported with vessels utilizing floating cranes.

Rico expected that in the second quarter, coal freight volume would reach 15.7 million tons, which would comprise 9.7 tons to be transported by ordinary barges and the other 6 tons utilizing floating crane. This year, the total coal freight is expected to increase by 26 percent to 63 million tons which will comprise 39 tons to be transported by barges and the other 24 million tons with vessels equipped with floating cranes. (*)