(EnergyAsia, February 13, Wednesday) — Singapore’s Courage Marine Group Ltd, a dry bulk shipper of coal and iron ore, said it has been awarded an urgent contract to transport coal from Indonesia’s Kalimantan province to Guangzhou in China, which has been hit by weeks of severe snow storms. Courage Marine is deploying two handysize over the next two weeks to fulfil the contract.

China, which relies on coal for 78% of its power, is stepping up efforts to restore power supplies to regions hit by the worst snowstorm in more than five decades.

According to Xinhua news, Wu Bangguo, President of the Standing Committee of the National People’s Congress, said:

“The government’s priorities are the transportation of coal for power plants, goods needed for disaster-relief effort and food. No effort should be spared in resuming power supplies and transport in the snow-ravaged regions.”

Courage owns and operates eight dry bulk carriers, comprising four Handysize, one Handymax and three Panamax vessels in largely Asian waters. Its focus on secondhand vessels allows greater cashflow certainty and attractive returns on a relatively low initial capital outlay.