Seroja, Louis Dreyfus in dry bulk shipping alliance

Singapore Exchange-listed shipping firm Seroja Investments Limited (SIL)announced Thursday that it has entered into 2 dry-bulk shipping JV joint venture agreements with a French partner, Louis Dreyfus Armateurs SAS (LDA)

The company?s unit Trans LK Marine Ltd and LDA will form a Singapore-incorporated company called LD Maritime-Seroja Pte Ltd to carry out international dry-bulk shipping which exclusively deals with the transportation of cargoes from Indonesia to overseas and other shipping related activities. Both TLK and LDA will own 50% each in the equity of LDMS.

Another unit PT Pulau Seroja Jaya Pratama (PSJP) PSJP and LDA will form an Indonesia-incorporated company called PT Seroja LD Maritim to carry out dry-bulk shipping which exclusively deals with the transportation of cargoes by ship within Indonesian territorial waters and other shipping related activities. Both PSJP and LDA will own 51% and 49% respectively in the equity of SLDM.

SIL is controlled by Indonesia?s Edward Soeryadjaya, the elder brother of Edwin Soeryadjaya, who controls South Kalimantan coal mining giant PT Adaro Indonesia (AI).

SIL is a marine transport provider of dry-bulk freight through the charter of vessels which consist of 56 sets of tugboats and barges.

SIL provides chartering services for the transportation of dry-bulk freight, consisting mainly of thermal coal, sand and other quarry materials, with the transport of thermal coal from coal mines to thermal power stations. Its major customers include Adaro , and PT Indocement Tunggal Perkasa, one of Indonesia?s largest cement producers.(alex)