Comexindo initiates use of cargo vessel

Comexindo initiates use of cargo vessel

JAKARTA (JP): PT Comexindo Maritim, a subsidiary of PT Prima
Comexindo owned by businessman Hashim Djojohadikusumo, yesterday
started running a 22,000 dead weight ton (DWT) bulk cargo vessel
as a feeder for its fleet anchoring away of ports.

Comexindo Maritime's chief operating officer, M. Kassim, said
at the inaugural ceremony for the vessel at Tanjung Priok seaport
here yesterday that the company leased the self-loading-and-
discharging bulk handler from Intership Ltd. of St. Vincent &
Grenadines, a island nation in the Caribbean.

"The vessel will serve Prima Comexindo's fleet of eight bulk
carriers, ranging from 35,000 DWT to 65, 000 DWT, which used to
operate abroad only," Kassim said.

He said Comexindo Maritim, which commenced large-scale
international operations in January 1995, has developed its fleet
of long-term chartered bulk carriers with a total capacity
exceeding 500,000 DWT, probably the largest dry cargo fleet in
Indonesia.

Comexindo specializes in the transportation of dry bulk
cargoes, such as grain, coal, fertilizer and iron ore on a
worldwide basis.

Kassim said his company transported over 1.6 million tons of
cargo last year.

He acknowledged that most of Comexindo's vessels do not call
at Indonesian ports because most Indonesian importers buy goods
on a cost-and-freight (C&F) basis.

He added that the bulk cargo arriving in the country reaches
tens of millions of tons per annum. Because they are purchased on
a C&F basis, their transportation is arranged by overseas
sellers.

He added that Indonesia spends lots of foreign exchange on
cargo shipments.

To save foreign exchange, Kassim suggested that importers buy
goods on a free on board (FOB) basis, which will allow Indonesian
vessels to transport them.(kod)