Cuban coal shipment marks first export to US in 60 years

The first Cuban export to the United States in 60 years will be marabu coal. Despite the Washington-imposed blockade that currently restricts most of the island’s exports, an agreement was reached with regard to exporting and marketing this mineral.

Cubaexport was the company that signed an international contract with the North American company Coabana Trading LLC; the two companies recently signed a formal agreement on coal export.

This signing took place at the headquarters of the Ministry of Foreign Trade and Foreign Investment (MINCEX), after a long series of negotiations. The agreement was spearheaded by the president of Reneo Consulting LLC, Scott Gilbert and the director of Cubaexport, Isabel O’Reilly.

According to the Granma’s website, Isabel O’Reilly explained that “This will be our first contract, but we hope to continue our relationship for many years, and not only with coal, but also with other products that we have ready to export like honey and coffee.”

They agreed on a price of USD $420 per ton, so far, the highest that CubaExport has achieved in more than 10 years of marketing this product.

In the international market the normal price for Cuban coal varies between USD $340 and $380 per ton.

Gilber said he was very proud to have participated in the deal and added that “this is a far-reaching agreement for economic relations between the two countries. The most important thing is that it means another plank in the construction of the bridge between the United States and Cuba.”

With respect to the takeover of Donald Trump on January 2, the president of Reneo Consulting LLC said that if the new administration believes in free trade, such agreements can be made without problems. “We look forward to working with the new government just as we have done with Barack Obama,” he said.

The process will begin with the agricultural cooperatives that will be in charge of cutting and processing the marabú coal. It will then be sold to another company that prepares and packages it for final export. Cubaexport is in charge of the formalities, sales, and exportation from the country.

It is important to remember that marabu coal is recognized for being one of the best in the world as it has a high energy capacity. It is produced in artisan kilns in a natural way and does not contribute to deforestation.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button