(Bloomberg) -- PT Arpeni Pratama Ocean Line, Indonesia's largest coal transporter, plans to spend as much as $350 million to buy ships, as construction of power plants boosts demand for the fuel in Southeast Asia's largest economy.
Arpeni plans to buy eight of the so-called Panamax class vessels by 2009 to double the number it currently owns, Oentoro Surya, president director of the Jakarta, Indonesia-based company, said in an interview. Arpeni may fund the purchase with bank loans and proceeds of last year's $160 million share sale, Surya said April 26.
Read more at Bloomberg Emerging Markets News
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