Publicly listed sea transportation operator PT Trada Maritime Tbk plans to buy five bulk carriers during the second half of 2010.
Finance Director of Trada Maritime Adrian E. Sjamsul revealed that such purchasing aims to be used in several domestic and foreign projects.
“We are now in the finalization phase in deciding which carrier to buy. The percentage of the financing mechanism is 80% from bank loan and the remaining is generated from the internal source. There are some banks that are ready to support us,” he said to Bisnis yesterday.
Up until now, Trada Maritime focuses to execute some projects with local companies; yet, Adrian confided that his company plans to expand into foreign market by the beginning of next year.
It takes around US$30 million-US$35 million to purchase one bulk carrier.
Trada Maritime shall not buy any new bulk carrier, they will buy second-hand bulk carrier from Korea or Japan aged not more than 10 years instead.
Those bulk carriers that will be used for foreign shipment posses 50,000 ton-70,000 ton of loading capacity.
Until now, the company has 36 units of bulk carrier consisting of five floating storage (FSO) & offloading, six oil tanker, 13 tugboats, and 12 barges.
Nearly 20 out of the tugboats and barges are the bulk carriers with 8,000-ton capacity.
Trada is now also converting a unit of FSO with 127,000 ton of loading capacity. The project is still ongoing in Cosco Shipyard, Guang Zhou, China. The conversion expense reached US$75 million.
http://www.bisnis.com/en/corporate/1id201367.html
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