Trada Maritime to increase coal shipping fleet

Indonesian listed shipping company PT Trada Maritime Tbk will buy four Panamax-type vessels next year to boost the company?s transportation service for coal shipment, Bisnis Indonesia reported Thursday.

The company?s chief financial officer Adrian E. Sjamsul said that the company would spend about US$120 million for the four ships. ?With the purchase of four ships, we will have five Panamax ships next year,? he added.

This year, the company bought a Panamax vessel with a capacity of 70,000 dead weight ton (DWT) for US$30 million. The purchase is financed by loans from Bank Mandiri. In addition, the company has operated 10 sets of tugs and barges for the coal transportation.

The vessel is expected to arrive in Indonesian water next month, he said.

Adrian said that the company was currently increasing the company?s fleet to be able to benefit from the increase in coal shipments both for domestic and export markets. (*)