SYDNEY (Yosefardi) – Cokal Limited has entered into 50:50 joint venture with Meratus Advance Maritime (MDM ) to manage the shallow river barges and tugs design specifically for PT Bumi Barito Mineral (BMR ).
The JV is an accumulation of almost 2 years of studies into river by shallow draft barging system which have confirmed effectiveness on the Barito river. While shallow draft barging system are use extensively worldwide the system has not been used in Indonesia to date.
Recently the BBM’s river barging solution moved to next phase and US naval architects were retained to do detailed design for contract tenders to be used. This is schedule for completion in the third quarter 2013.
“MDM’s practical input and detail knowledge of barging on the Barito has been invaluable in this phase. Cokal will operate the river barges and the river supply chain. They have a proven track record in this area and are experience and well operator through Indonesia,” Cokal said in a disclosure to ASX this morning.
The BBM’s coal project (IUP 188.45/149/2013 ) in Central Kalimantan in the prospective metallurgical upper Barito Coal Basin, Regency of Murung Raya. The project covers an area of 15.000 hectares. (ferdi@yosefardi.com)