Scomi Marine Expects Increase in Revenue

Scomi Marine Bhd expect a 76 percent increase in revenue and net profit in financial year ending Dec 31, 2006, after boosting fleet size and capacity to transport coal, its CFO said.

Scomi Marine was expanding its fleet to cope with the requirements of its main customer -- Indonesian mining company PT Adaro – which had increased its annual coal output to 36 million tons recently from 27 million tons last year. The company said last year, that it ordered 16 new tugs and barges, which would increase its fleet size to 159 vessels. Out of this, 91 would be tugboats and barges. So far, 13 news tugboats and barges have been delivered and another three vessels would be delivered this year. Source: Malaysia Star