LX Pantos announced that it had signed a contract with Indonesian company KSA to establish and operate a joint venture (JV) for resource logistics. The contract signing ceremony, held at KSA’s headquarters in Jakarta, Indonesia, was attended by LX Pantos CEO Lee Yong-ho, Asia Regional Director Lee Jong-Chan, and KSA CEO Kartika Hadi, along with other representatives from both companies.
KSA is Indonesia’s largest resource-specialized shipping company with bulk carriers, transporting approximately 80m tons of coal and nickel every year.
Through this contract, LX Pantos and KSA aim to establish a JV that will specialize in the resource logistics business, with an initial focus on transporting coal.
The new JV will start by building its business foundation with coal shipments produced from Indonesian mines. This year, three barges will be introduced, and additional vessels and transshipment facilities will be gradually expanded.
Additionally, the company plans to expand its resource logistics business to include various minerals, such as nickel and lithium, through the JV, thereby broadening its customer base.
Indonesia is recognized not only as a resource-rich country with diverse and abundant mineral resources but also as a key global supply chain hub. It is the world’s largest coal exporter and ranks first and second globally in nickel and cobalt supply, respectively, essential materials for electric vehicle batteries.
When speaking about this latest agreement, LX Pantos CEO Lee Yong-ho stated, “Indonesia is a country of strategic importance due to its abundant key raw materials and significant growth potential. This joint venture represents a pivotal step in our expansion into the Indonesian resource logistics market.”
This year, LX Pantos continues to bolster its international presence through notable initiatives such as the opening of a large rail terminal near a battery production facility in Hungary and the establishment of a specialized Korea-China multimodal transportation JV.
Source: LX Pantos
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