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Company not sell coal? But company got do tagboat this positive impact due to high demand from china now. Coal is the main source for electricity from china. Recently just sign contract with Indonesia to import more coal
bcuz now coal is highly demanded by China. In order to sent tons of coal to China, the supplier needs more boat to send it so that tas will benefit from that, correct me if I'm wrong haha
The shipbuilding and ship repairing operations utilise materials such as iron and steel. In addition to material
consumption, operations such as welding and cutting generate solid wastes, especially scrap metal. As these have
economic value such scraps are recycled and reused. This helps to increase our resource efficiency for materials
consumption.
Based on the assumption of a recovery in the world economy, the International Energy Agency (IEA) report froecasts a 2.6% rise in global coal demand in 2021, driven by higher electricity demand and industrial output. Indonesian coal miners are expected to benefit from the memorandum of understanding (MoU) signed by the Indonesia Coal Mining Association (APBI-ICMA) and its counterpart China Coal Transportation and Distribution Association (CCTDA) to facilitate the export of coal from Indonesia to China. In the MoU which valid for three years, the two parties agreed to enhance their cooperation to boost coal export from Indonesia which is targeted to reach 200 million tonnes. The bright outlook for coal mining industry in Indonesia will bring positive impacts on the transportation activities and is expected to trigger more demands for tugboats. Our Group is looking forward to reap further benefits from this development.
In view of the current challenging global economic condition, the Group is focusing on improving the efficiency of the current operation and concentrating efforts on building the vessels under contracts, exploring new markets and new business opportunities, while prudently manage the operational costs to weather the current economic turbulence.