Pertamina extends Humpuss? oil tanker charter contract

State-owned oil and gas firm PT Pertamina has recently extended a contract to charter a 35,700 dead-weight-ton crude oil tanker MT Panca Samudra for one year period starting June 23, 2005.

The vessel owner, PT Humpuss Intermoda Transportasi, said in a statement on Thursday both parties agreed to cut the charter rate to US$17,075 per day. The statement, however, did not provide the previous rate.

Previously, Pertamina chartered the tanker under a 12-year contract.

Humpuss owns and operates four methanol tankers and eight crude oil tankers, which were chartered by Pertamina, a state-owned oil company, for long-term contracts. The company also owns one LNG carrier and manages three more with its partner Japan's Mitsui OSK Lines Ltd.(Robert)