PT Trada Maritime Tbk (the Company) on January 11, 2013 has signed a Memorandum of Understanding as well as the phase 1 contract transshipment cooperation with PT Gunung Bara Utama (GBU), coal company located in Damai, West Kutai, East Kalimantan.

PT Trada Maritime Tbk (the Company) on January 11, 2013 has signed a Memorandum of Understanding as well as the phase 1 contract transshipment cooperation with PT Gunung Bara Utama (GBU), coal company located in Damai, West Kutai, East Kalimantan.

"The MOU was an initial basis for the Company for the provision and operation of the 40 sets of barge and tug Coal for coal transport GBU over a period of 10 years. Company estimates the total value of the memorandum of understanding is no less than 750 million U.S. dollars with an investment approximately 200 million U.S. dollars, "said Danny De Mita, Director of Trada Maritime, Tuesday (01/15/2013) in Jakarta.

While the contract was signed for 10 units of phase 1, which will begin operation early in May 2013. Currently, the Company has taken delivery of five sets of barge and tug, and will shortly receive an additional 5 additional sets. Accordingly, the Company believes that the target of the operation of 10 set at the beginning of May 2013 will be achieved.

For a period of 2 years to 4 years, Trada will continue to procure additional 30 barge and tug units set new ones for the GBU in accordance with a Memorandum of Understanding that has been signed. Procurement will be carried out in stages with funding from internal or banking.

Trada is very optimistic that this plan will strengthen the dry bulk segments (dry bulk) as the middle of this year coal prices expected to go up to around 100 dollars per ton.