New dry bulk vessels to operate in Indonesia next year

State-owned non-bank ship financing firm PT Pengembangan Armada Niaga Nasional (PANN) will finance the purchase of six units of bulk carrier in 2011 by four shipping firm clients, Bisnis Indonesia reported Friday.

PANN's president director Ibnu Wibowo said that the six vessels comprise of two Kamsaramax-type vessels each with a capacity of 78,000 dead weight tonnage (DWT) and four handymax-type vessels each with a capacity of 51,000 DWT.

The procurement of new carriers will cost the company US$150 million. Of the total, $70 million will be used to purchase the two Kamsaramax-type vessels and the other $80 million for the purchase of the four handymax vessels.

But he refused to mention the four clients' names.

Meanwhile, Indonesia-listed shipping firms PT Samudera Indonesia Tbk, and PT Trada Maritime Tbk announced that they will also buy dry bulk carriers.

Samudra Indonesia will buy two units of supramax or handymax vessel and PT Trada Maritime will buy 2 panamaxes.

Samudra Indonesia's shipping director Asmari Harry explained that Indonesia needs more carriers to anticipate the rise in coal trader.

He said the national coal output is estimated to rach 300 milion tons this year, 220 million of which have been or will be exported.

In order to carry only 30 percent of the total exports, Indonesia need another 73 bulk carriers of handymax type with a capacity of 52,000 DWT. Each of the vessel costs US$27 million. (*)