Marco Polo Marine, theintegrated marine logistic group, says wholly-owned subsidiary, MP Shipping Co Pte Ltd (MPS), has secured a 2-year coal shipment contract worth about US$15.5 million ($21 million).

The coal shipment contract is secured with an Indonesia coal miner and will commence from September 2010. Under the contract, the group will undertake the shipment of coal from Sumatra in Indonesia to West Malaysia over a period of 2 years.

Sean Lee, the CEO of Marco Polo Marine, says: “We are pleased to participate in the export of coal from Indonesia through this US$15.5 million coal shipment contract. Malaysia relies heavily on imported coal for generating electricity and Indonesia supplies the bulk of this coal demand.”

The coal shipment contract is expected to contribute positively to the group’s consolidated profit after tax in FY2011 and FY2012.