Courage bags contract to ship coal to China

The coal will be shipped to Guangzhou.

HONG Kong-based shipowner Courage Marine has bagged an urgent contract to ship coal from Indonesia to China.

As China struggles to recover from the worst snowstorms in more than five decades, shipping coal to the nation’s power stations has become a top priority.

Singapore Exchange listed Courage Marine said that it had been awarded an urgent contract to ship coal from Kalimantan, Indonesia, to Guangzhou.

The company is deploying a pair of handysize bulkers for a two-week period to fulfil the contract.

“China relies on coal for 78% of its power and is aggressively stepping up efforts to restore power supplies,” Courage Marine commented.

Last week, China Cosco Holdings said that it had deployed an additional 34 vessels with a capacity of 1.7m dwt on domestic coal trades in an effort to beat shortages at the nation’s power plants.