operations update-mamahak, page-15

Nannook, I am sure you are aware that barging coal does not mean having to have tugs and barges on time charter.
Spot charter is used by many smaller miners, and generally even some of the now bigger miners started out using spot charter until such time the volume justified switching to time charter, and then eventually to tonnage based barging contracts.
Spot charter may be more expensive per voyage, but it is the most sensible option when cash flow is uncertain.