SPA-TSM established

SPA-TSM established

JAKARTA (JP): Thome Ship Management Pte. Ltd. of Singapore and
PT Samudra Petrindo Asia announced on Saturday that they have
jointly established SPA-TSM, a shipping management company based
in Jakarta.

According to a statement, the new company, which started
operating on Jan. 1, will be managed as a division within Samudra
Petrindo -- a wholly-owned subsidiary of PT Bimantara Citra.

The joint venture company will increase the number of its
ships from six at present to 15 by the end of this year.

A spokesman for Samudra Petrindo, R.T. Watson, said Thome Ship
Management would contribute its expertise in vessel management,
while Samudra Petrindo would provide crew management.

The crew department of Samudra Petrindo presently handles more
than 1,000 Indonesian officers and ratings in worldwide trade.
(pwn)