Tiếng ViệtLX Pantos, a global logistics service provider based in Seoul, signed a contract with KSA, an Indonesian shipping firm, to found a joint venture specializing in the transportation of coal and other minerals from the Southeast Asian country, the Korean firm said Thursday.
KSA ships nearly 80 million tons of coal, nickel and other minerals every year with its bulk carriers.
Their new joint venture plans to secure three barges this year to start shipping coal from an Indonesian mine. It will then secure additional vessels and transshipment facilities gradually.
Through the joint venture, LX Pantos seeks to expand its presence in the market for the transportation of various minerals, including nickel and lithium, as well as coal.
Indonesia is the world’s largest coal exporter, which also supplies the world’s largest amount of nickel and the second-largest amount of cobalt. Both nickel and cobalt are essential materials to produce electric vehicle batteries.
“Indonesia is a country of strategic importance due to its abundant key raw materials and significant growth potential,” LX Pantos CEO Lee Yong-ho said. “This joint venture represents a pivotal step in our expansion into the Indonesian resource logistics market.”
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