Humpuss wins US$49.12 million offshore loans<\/p>\n
JAKARTA (JP): Through its three subsidiaries, PT Humpuss
\nIntermoda Transportasi (HIT) of the Humpuss Group, has secured
\nUS$49.12 million in offshore loans.<\/p>\n
The company's spokesperson, Kurnia Wamila Putra, said Friday
\nthat the loans would be used to finance the construction of two
\nnew tankers and one other vessel.<\/p>\n
He said that $16.12 million of the total loans would be
\nprovided by Nisso Iwai Corporation while the other $33 million
\nwould come from a syndication of Korean banks.<\/p>\n
The $16.12 million loan would be used to build a vessel, with
\na 17,500 deadweight-ton (DWT) capacity, by Jin Jiang Shipyard
\nLimited of China.<\/p>\n
Kurnia said that the vessel would be chartered to the state-
\nowned oil company Pertamina.<\/p>\n
\"The 17,500 DWT vessel has been ordered by New Century
\nMaritime, a subsidiary of HIT, and is to be built by Jin Jiang
\nShipyard in 21 months starting from the signing of the
\nshipbuilding contract,\" he said after the signing of the loan
\nfacility.<\/p>\n
New Century and Jin Jiang signed the shipbuilding contract
\nearlier this month.<\/p>\n
The vessel, to be chartered to Pertamina to carry oil, is
\nscheduled for delivery in April 1999, he added.<\/p>\n
\"The other $33 million in loans is to be provided by a
\nsyndication of banks led by Commercial Bank of Korea. It will be
\nused to build two oil tankers, of 3,500 DWT and 35,000 DWT
\ncapacity, which will also be chartered to Pertamina,\" Kurnia
\nsaid.<\/p>\n
He said that the two tankers were ordered by Silverstone
\nDevelopment Inc. and Lucky Management Corp. Both are HIT
\nsubsidiaries.<\/p>\n
\"The 3,500 DWT tanker will be built by Banguhjin Shipbuilding
\nand Engineering Co. Ltd, while the 35.000 DWT tanker by Halla
\nEngineering and Heavy Industries, both of Korea,\" he said.<\/p>\n
\"All three vessels will be chartered to Pertamina for a 10-
\nyear period, with an option of a two-time one year additional
\nperiod.\"<\/p>\n
HIT and Pertamina signed the contract on Aug. 28.<\/p>\n
With the three new ships, worth $54.5 million, HIT would own,
\nmanage and operate a total of 13 vessels of various types and
\nsizes.<\/p>\n
HIT was previously called PT Humpuss Sea Transport. This was
\nset up in December 1992. HIT plans to float some of its shares on
\nthe Jakarta Stock Exchange later this year. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/humpuss-wins-us4912-million-offshore-loans-1447893297",
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