Mainboard-listed Marco Polo Marine, the integrated marine logistic group, says the group has secured a ship building contract worth $10.5 million, to construct five deck cargo barges for PT. Pelayaran Nasional Bina Buana Raya (BBR), an associated company of the group.
Construction of the five deck cargo barges is expected to begin in October at the group’s shipyard in Batam with delivery scheduled in July 2012. Upon delivery, these vessels will be flagged as Indonesian vessels and be deployed by BBR to ferry various commodities for its customers within the Indonesian waters.
Sean Lee, the CEO of the group, says, “We are very pleased that BBR again chooses our Batam shipyard to support its fleet expansion programme. This contract will contribute to the profitability of the group’s shipbuilding activities for the financial year ending Sept 30, 2012.”
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