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Marco Polo secures $10m Indonesian contract

Indonesia: Marco Polo Marine has secured a $10m coal transshipment contract in Indonesia. The 17 month long contract is with an undisclosed Indonesian coal owner and a related third part to Marco Polo. The domestic transportation contract will be carried out by Marco Polo's Indonesian flagged vessels. "With the recent conversion to more Indonesia-flagged vessels via the sale-and-leaseback. arrangement as announced recently, we are happy to be able to capitalize on such business opportunities which we believe will grow over time," said Sean Lee Yun Feng ceo of Marco Polo Marine. "Although this is an existing customer, the contract value of approximately $10m over 17 months represents a very significant increase in the business volume as we increase our market share with this customer." [24/02/10]

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