Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Humpuss drops ship purchase for rentals

Humpuss drops ship purchase for rentals

Jakarta: Decreased freight rates have led Indonesian shipping company PT Humpuss Intermoda Transportasi to abandon its plans to purchase two Panamax-size vessels, choosing to meet capacity demand through rentals. The contracts, worth $170m, were with an undisclosed Japanese yard and are believed to carry no cancellation fee.

Company president director Agus Darjanto (pictured) is quoted by Antara News as attributing the decision to the fact that the current global financial crisis has left many cargo vessels "idle" and that ship rental tariffs currently hover at about $7,000 a day (down from $40,000), thereby making renting a financially viable option.  [19/11/08]

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.