Coal & Oil to triple Indonesian coal import
Thursday, December 9 2010 - 01:55 AM WIB
Dubai-based leading trader Coal & Oil Company LLC, through its Indonesia unit PT Coal & Oil Indonesia, expects to triple its coal import from Indonesia to 15 million tons in the next three years from 5 million tons, at present.
Country head in Indonesia, Joshy T. Varghese told Petromindo.Com recently that the coal price in international market will be steady for next year around US$100-110 per ton for bituminous coal and low-rank coal at around $30-60 per ton.
From around the world, the company is expected to buy around 6 million tons this year, and the import will more than triple in the next three years to 20 million tons, he said.
He predicts, India will become a major client for Indonesia in 2011, with about 55-60 million tons of coal from Indonesia expected to be shipped to India in the period. (denny)