Having met with Karan on multiple occasions I can assure you that he is reluctant to part with dollars or cents (sorry Karan if you read this) He is the original scrooge. Every penny counts. Before and after AGM I pushed to lease our own barges and move 100% of our product to Buntok. As I have said here many times, every gram of product needs to be at Buntok.
It was always too expensive as Indonesian coal production ramped up from 500 Mt/A to 669 Mt/A 2023 and all barges were at a premium. As well, in using a 3rd party ISP at Buntok, it is not usually just a matter of paying US$1 to unload, $1 to load, you have to pay like a rental on the stockpile area you intend to use. In these torrid times of massive increase in Indonesian production, that rental could be very high. Hence importance of our partnership with Petrindo.
So back to Karan and barges, now that Karan has actually leased these barges for 12 months, In My Opinion, the coal will be flowing down the river.
Having met with Karan on multiple occasions I can assure you...
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