LX Pantos Advances into Indonesian Resource Logistics... Partners with Local Companies

Establishment of Joint Venture with Local Bulk Shipping Company KSA

LX Pantos is starting a resource logistics business in Indonesia in partnership with a local company.

On the 30th, LX Pantos announced that it signed a 'contract for the establishment and operation of a resource logistics joint venture (JV)' with KSA, the largest local bulk carrier specializing in resource transportation in Jakarta, Indonesia.

The JV created by the two companies will first build a business foundation by starting the transportation of coal produced from Indonesian mines. To this end, three barges (small vessels that transport over relatively short distances such as inside ports or estuaries) will be introduced this year, and the number of ships and facilities will be steadily increased in the future. Furthermore, the business and customer base will be expanded to various minerals such as nickel and lithium.

Indonesia is the world's largest coal exporter and ranks first and second in the supply of nickel and cobalt, respectively, which are key materials for electric vehicle batteries.

Lee Yong-ho, CEO of LX Pantos, said, "Indonesia is a country attracting attention for its abundant key raw materials and growth potential," adding, "LX Pantos will make a full-scale entry into the Indonesian resource logistics market through the establishment of this joint venture."

Lee Yong-ho, CEO of LX Pantos (second from the left), Kartika Hadi, CEO of KSA (third from the left), and other company officials are taking a commemorative photo after signing a joint venture (JV) establishment agreement at KSA headquarters in Jakarta, Indonesia.
[Photo by LX Pantos]