Arpeni Pratama Ocean Line, an Indonesian listed shipping company, will get two ships this month as part of its effort to boost its fleet, The Jakarta Globe reports.
Oentoro Surya, president director of the company, said the ships would be delivered from China in the next few weeks. Each one costs $41 million.
“The two ships will lift our total fleet to 78 units,” Oentoro told the Jakarta Globe.
The ships are Panamax bulk carriers, he said, and have a deadweight tonnage of 76,000 tons.
Oentoro said the company would finance the purchase with both bank loans and its own money. Loans will cover 80 percent, he said.
Several overseas banks, including Singapore’s UOB and Nordic bank SEB, have committed to providing the loans, he said.
The loans have an interest rate of 6 percent and will mature in 10 years, he said.
UOB is one of the three lenders in Singapore. SEB is a leading North European financial group that focuses on commercial and investment banking.
SEB offers a wide range of services to private, corporate and institutional customers through its branch offices around Nordic countries, Germany, Poland, Russia, Ukraine and the Baltic States, according to its Web site.
Arpeni was established in October 1975. It became a public listed company in June 2005.
Its main business includes transporting timber products, dry bulk cargo, general cargo and liquid cargo.
Shares of Arpeni fell 4.26 percent to Rp 90 on the Indonesia Stock Exchange on Wednesday. The shares have lost almost 20 percent so far this year.
Oentoro Surya, president director of the company, said the ships would be delivered from China in the next few weeks. Each one costs $41 million.
“The two ships will lift our total fleet to 78 units,” Oentoro told the Jakarta Globe.
The ships are Panamax bulk carriers, he said, and have a deadweight tonnage of 76,000 tons.
Oentoro said the company would finance the purchase with both bank loans and its own money. Loans will cover 80 percent, he said.
Several overseas banks, including Singapore’s UOB and Nordic bank SEB, have committed to providing the loans, he said.
The loans have an interest rate of 6 percent and will mature in 10 years, he said.
UOB is one of the three lenders in Singapore. SEB is a leading North European financial group that focuses on commercial and investment banking.
SEB offers a wide range of services to private, corporate and institutional customers through its branch offices around Nordic countries, Germany, Poland, Russia, Ukraine and the Baltic States, according to its Web site.
Arpeni was established in October 1975. It became a public listed company in June 2005.
Its main business includes transporting timber products, dry bulk cargo, general cargo and liquid cargo.
Shares of Arpeni fell 4.26 percent to Rp 90 on the Indonesia Stock Exchange on Wednesday. The shares have lost almost 20 percent so far this year.