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Penascop takes part in Benkulu Terminal Project
Provides logistics service for Benkulu Port Terminal, railway construction material handling
Friday, October 02, 2015, 17:45:00 Paul Yoon ckyoon7@paran.com
Penascop Maritime Indonesia (Penascop) provides full logistics service for Benkulu Port Development Project (BPDP) now underway south of Sumatra, Indonesia in the spotlight.

Penascop Maritime Indonesia (headed by President and CEO Lee Si-Hyeon) recently unveiled that it had inked on last Sept. 23 an MOU with Indonesia-based PT Mandela Resources on tie-up related to BPDP including terminal and railway construction.

Under the MOU, Penascop is responsible to provide full logistics service for BPDP involving transport, loading and unloading of material required for the port based in the southern Sumatra, Indonesia.

BPDP is the project that the Indonesian government has been pursuing since 2010 in a move to upgrade the substandard transport infrastructure to mitigate difficulties with exports of coal and iron ore produced in the southern Sumatra. The Sumatra Island accounts for 50% of Indonesia’s total coal deposits, but its coal output ends up only representing 7.5% of the country’s total coal production short of transport infrastructure. BPDP is the local Jokowi government’s project targeting its opening in 2019 that aims to develop Indonesia-wide as the government vowed.

President and CEO Lee Si-Hyeon, also acting as SG (secretary general) of Penascop Group), said, “The BPDP project costs a total of $3 billion, while Penascop’s annual sales revenue in Indonesia is estimated to reach about $20 million.”

Penascop is an associate with Penascop Group in Indonesia. It has started as a ship agent, now representing about 70 ships, and is registered as a member with INSA (Indonesia National Shipowners Association). Its office is headquartered in Jakarta with ten regional offices established across the country with a total 60 employees working. The company posted sales of $15m last year, and sustains its business expansion by inking tie-up with PERTAMINA, the state-owned oil player in Indonesia as its agent.

In the meantime, Penascop Group (chaired by Seo In-Tae) was launched in November last year in Korea with the purpose of win-win development by tying up with domestic and overseas agents, ship’s chandlers, forwarders, and ship managers based in Asia-Pacific area. The group has a total of 11 members by country comprising Korea, Indonesia, Singapore, China, Malaysia, Vietnam and others. 
   

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