The foreign exchange Indonesia leaves at sea: Flag carrier is needed
Indonesia fuels the global economy with its coal, palm oil, and nickel, yet loses billions every year by paying foreign fleets to carry its own wealth away.
Indonesia, a global economic powerhouse fueled by coal, palm oil, and nickel, quietly hemorrhages billions of dollars each year due to inefficient shipping practices. While the country supplies a significant portion of international seaborne coal, palm oil, and nickel, domestic operators have virtually no involvement in the deep-sea transit of these commodities.
Foreign shipping lines, operating from hubs in Singapore, Tokyo, and Europe, capture the profits from this transit, leading to a consistent loss of over US$10 billion annually. This structural imbalance, often overlooked in official trade statistics, amounts to a silent import of billions of dollars in manufactured goods that could be produced domestically. Addressing this issue is crucial for improving Indonesia's monetary stability and economic health.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
