Seroja secured a US$6m coal transportation contract with PT Kideco Jaya Agun to ship coal from the Kideco mines, and will be deploying Indonesian-flagged vessels owned and operated by in full compliance with cabotage laws, while Co. has recently been expanding its coal transportation fleet….
However we note that Indo Coal listed companies are up by a bit in Indo trading today, with Adaro Energy, +3%, partly on positive outlooks. Citi add in a report today that it expect increases in short- and long-term coal price forecasts, as declining quality from existing mines and lack of new supply sources is expected to make it difficult for miners to keep pace with rising demand from developing economies.
News could have indirectly led to some interests in Seroja's rise today
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