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HomeMaritime NewsRegionsAsiaHumpuss to seek $500m in new loans for expansion

Humpuss to seek $500m in new loans for expansion

Humpuss to seek $500m in new loans for expansion
Hutomo Mandala Putra-owned Humpuss Intermoda Transportasi is pushing ahead with expansion plans, announcing its intent to seek some $500m in bank loans as it pursues contracts to transport liquefied natural gas and chemcal in Indonesia, according to local media reports.

The loans will finance around 80% of its capital expenditure target at $600m for the year, president director Theo Lekatompessy was quoted as saying. He added that the company is talking to several lenders including some European banks, but did not give details.

Mandala Putra is the youngest son of former Indonesian president Suharto.

Humpuss said last year that it was planning to spend $120m to finance various shipping and sea transportation projects this year. It claims to be one of the few local companies with expertise in shipping LNG in the international market.

TAGS: Europe Tankers Finance & Insurance LNG Indonesia
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