Xinhua reported that sea transport operator China Ocean Shipping Company is making efforts to win coal shipment contract from Indonesia by establishing joint venture with a local firm.
As per report Cosco has teamed up with Indonesia's PT Global Putra International and the joint venture will buy up to 10 coal ships with the capacity of between 50,000 tonnes and 100,000 tonnes.
Mr Sumadi Kusuma president of GPI said that "Each ship has a price tag of USD 50 million to USD 100 million.” He added that “We established the joint venture to answer demands for coal shipment from Indonesia to foreign countries, particularly China.”
Mr Kusuma and Wei Jiatu CEO of COSCO have met with Mr Jusman Syafii Djamal transportation minister to report the joint venture establishment.
Mr Sumadi said that "We have handed over all documents to the government, who has the final say. We are confident the joint venture will become operational this year.”
As per report Cosco has teamed up with Indonesia's PT Global Putra International and the joint venture will buy up to 10 coal ships with the capacity of between 50,000 tonnes and 100,000 tonnes.
Mr Sumadi Kusuma president of GPI said that "Each ship has a price tag of USD 50 million to USD 100 million.” He added that “We established the joint venture to answer demands for coal shipment from Indonesia to foreign countries, particularly China.”
Mr Kusuma and Wei Jiatu CEO of COSCO have met with Mr Jusman Syafii Djamal transportation minister to report the joint venture establishment.
Mr Sumadi said that "We have handed over all documents to the government, who has the final say. We are confident the joint venture will become operational this year.”