Indonesian miner buys out two local shipping firms

Indonesian miner Geo Energy Resources is to buy 51% stakes in two local shipping firms – Trans Maritim Pratama (TMP) and Bahari Segara Maritim (BSM) – which combined own 27 tugboats and 27 barges, which will be used to ship coal.  The total cost for the two acquisitions comes in at $127.5m, and is pursuant …

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