Harbor Star Investing $10.0 Million for Indonesia Transport Deal

Harbor Star Shipping Services Inc. is eyeing their maiden venture in Indonesia soon through a coal transport agreement for a power generating facility.

Harbor Star is currently in talks with the main service provider of an Indonesian state-owned power facility for a potential 15-year contract to deliver coal.

Once the deal is finalized, Harbor Star is likely to spend $10.0 million to buy 10 tug and barge tandem which will have a carrying capacity of about 8,000 tons each.

The company is planning to conduct a follow-on offering or project financing to fund the Indonesia investment.

Harbor Star is currently exploring new opportunities in other countries across Southeast Asia given that its operations in the country have been affected by the ongoing port congestion.

Source: http://www.pinoyinvestor.com/smartinvestor/harbor-…