PT Transcoal Pacific Tbk (TCPI), a shipping company, obtains a credit facility worth IDR 124.44 billion from one of state-owned companies in order to purchase four additional vessels. Erizal Darwis, Director of Transcoal Pacific, relayed the news in the information disclosure quoted today (1/4).

“The credit facility agreement was signed yesterday (30/3) and is intended to fund the purchase of two pusher-tugs and two pusher-barges,” Darwin revealed futher.

The agreement with the creditor stated that the term of the loan facility will span 78 months. As usual, the interest rate, provision, arrears fine, as well as servicing, commitment, and administrative fees, will be applied to the loan in accordance to the bank’s regulation.

The company expects that these additional pusher-tugs and pusher-barges will positively enhance its business. In 2020, TCPI is known to operate 326 units of different types of vessels, including fenders, floating cranes, mother vessels, tugs, and barges. 

Source: https://www.idnfinancials.com/news/42685/attaining-credit-idr-billion-transcoal-pushers