Cosco, Global set Indonesian coal shipping JV
Thursday, February 19 2009 - 02:38 AM WIB
Chinese shipping firm COSCO Group teaming up with local shipping firm PT.Global Putra International Group will invest US$300 million to procure 10 handimaxes until 2010 to tap booming Indonesian coal industry.
Global Putra CEO Sumadi Kusuma was quoted by Bisnis Indonesia as saying that the vessels would be used to transport coal for state electricity firm PLN as well as for export market. (*)