Trada Maritime to expand coal fleet

Jakarta-based shipping firm PT Trada Maritime will purchase 10 tugboats and barges to strengthen its coal shipping fleet, Bisnis Indonesia reported on Tuesday.

Trada Maritime?s president director Darmansyah Tanamas said in Jakarta on Monday that the company had secured loan facilities amounting to US$22.6 million (Rp 210 billion) from locals Bank Danamon and Bank Permata to finance the purchases of the tugboats and barges.

He said that the loan comprised of a club deal loan worth $18.5 million and swap facilities of $4.1 million. ?The funds will be used to purchase the 10 tugboats and barges,? he said.

He said that the new tugboats and barges would be used to transport between 4 million and 5 million tons of coal a year as part of the company?s 6-year contracts signed with coal producers in Kalimantan.

?At present, we have operated 10 tugboats for coal transportation. We plan to further add the coal shipping fleet by not only buying more tugboats and barges but also Panamax and Handymax-type vessels,? he added. (*)