Trada Maritime, Asahi Tanker form joint venture shipping company

The Jakarta Post, Jakarta

PT Trada Maritime, a subsidiary of Trada International trading and shipping company, signed an agreement to form a joint venture with the Japanese-owned Asahi Tanker on Tuesday in Jakarta.

Trada Maritime president director Darmansyah Tanamas said the joint venture, PT Trada Asahi Maritime (TAM), would provide shipping services and logistics to oil and gas companies.

Under the new venture, Trada Maritime and Asahi Tanker own respectively 51 percent and 49 percent of shares in the company. TAM will be controlled by Trada Maritime, with strategic guidance from Asahi Tanker.

"Our aim is to explore opportunities in the domestic clean oil product market in both Indonesia and other regions," he said as quoted in a press release.

President director of the 57-year-old Asahi Tanker, Makoto Iwata, said he saw a good strategic alliance and business opportunity between both companies.

"Our experience in transporting clean and other petroleum products will complement Trada's network and experience in the Indonesia region," Iwata said, adding that the joint venture with the local company was the first of its kind for Asahi.

Darmansyah said, on Jan. 1, 2010, the government would introduce a presidential decree on the protection of the domestic shipping industry, forbidding non-Indonesian flag vessels to operate in the country.

He said his company saw the upcoming decree as an opportunity to expand its business by striking an alliance with an experienced foreign shipping company.

Currently, he said, four of Indonesia's 13 biggest import and export commodities -- oil, coal, crude palm oil and gas -- were still controlled by international operators.

"These four are still controlled by international operators. TAM was created to answer the call to transport crude oil and its derivative products," he said.

Iwata said the venture would benefit both parties, in knowledge transfer and human and capital resources.

Trada Maritime, formerly known as PAS Maritime, offers services including marine terminals, ship management and logistics to oil and petrochemical industries in Indonesia.

Asahi Tanker is a shipping company with a 15-ship fleet, including small to large tankers and various types of specialized vessels, with affiliations in Korea, Taiwan, Singapore and London.(nkn)