Saturday, 06 June 2009
Indonesian shipping companies more than doubled investment for ship procurement through imports in the first quarter of 2009 amid shrinking ship cargoes. Based on data at the trade ministry ship imports in the first three months of this year were valued at US$352.9 million, up from US$167 million in the same period last year.
The Indonesian National Ship owners' Association (INSA) said the increase in import is to forestall shortage in shipping service when the country fully implements the cabotage principle in 2010.More vessels especially barges and tugboats will be needed to transport coal in January, 2010, Johnson W. Sucipto, the INSA chairman said.The cabotage principle is already implemented by phases but coal is still allowed to be transported by ship flying foreign flag until now.
Source: TMCNet.com
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