(EnergyAsia, June 26 2013, Wednesday) — HMS Bergbau AG, a Germany-based international coal producing and trading company, said it has sold its port operations in Indonesia as part of a plan announced in 2011 to focus on becoming “a pure-play trading and marketing company.”
Without disclosing details, the Berlin-based company said the sale will result in “a low loss on disposals” for 2013.
The funds from the sale will be used for securing exclusive marketing agreements with coal producers for the Frankfurt-listed company to focus on developing its markets in Asia and Africa.
“The aim of such agreements is to establish long-term customer and supplier relationships. In addition to stable sales and earnings contributions, the agreements that are usually concluded for longer periods offer HMS Bergbau AG a competitive edge in terms of ensuring coal supplies and complying with delivery commitments in particular,” it said.