PT Indo Straits Tbk (PTIS) has obtained a contract of transhipping a minimum quantity of 2,40 million tons coal over an initial period of 6 months.
In an official statement submitted to Indonesia Stock Exchange today, the contract, which will tentatively commence in September 2011, takes place at coal mine in Satui, South Kalimantan.
The arrangement also allows for option for another 6 month contract extension following the end of the initial 6 months period.
"This is an excellent milestone for Indo Straits given that Arutmin Indonesia has been a long-standing esteemed client for our marine engineering division," said Indo Straits.
Disclosure: No position at the stock mentioned above.
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