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Trans Power Marine to acquire six sets of tugs and barges

04 March 2019 08:32 AM  Company: PT. Trans Power Marine Tbk [TPMA]
Rp. 310  +2 (0.65%)

JAKARTA - PT Trans Power Marine Tbk (TPMA) is planning to acquire four to six sets of tugs and barges to anticipate this year's capacity demand.

"The plan was from last year. However, we were still hindered by funding and the ship capacity that we want is very rare in Indonesia," TPMA Finance Director Ruddy Sutiono told Kontan.co.id, Sunday (3/3).

TPMA targets the acquisition of vessels to be realised in the middle of the year. For funding, the company has budgeted capital expenditure (capex) of US$ 10 million-12 million.

"The funds are sourced internally and for bank loans. As for vessel funding, we have pocketed a commitment from Bank Negara Indonesia (BNI) and are waiting for the commitment process from UOB Bank," Mr Sutiono said. (MS)

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PT. Trans Power Marine Tbk [TPMA]   Rp. 310   +2 (0.65%)