Antara News reported that China's Ocean Shipping Company has agreed to team up with PT Global Putra International to establish a joint venture coal transport company with an investment of up to USD 1 billion.
Mr Sumadi Kusuma CEO of GPI said the joint venture company would buy 8 to 10 ships for coal transport, mainly from Indonesia to China. A ship would cost around USD 50 million to USD 100 million with a capacity of 50,000 tonnes to 100,000 tonnes.
He said the ship would fly the Indonesian flag to avoid problems upon the implementation of the cabotage principle in the country in 2010.
Mr Sumadi Kusuma CEO of GPI said the joint venture company would buy 8 to 10 ships for coal transport, mainly from Indonesia to China. A ship would cost around USD 50 million to USD 100 million with a capacity of 50,000 tonnes to 100,000 tonnes.
He said the ship would fly the Indonesian flag to avoid problems upon the implementation of the cabotage principle in the country in 2010.