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Highlights
- Infrastructure Joint Venture (IJV): Cokal Ltd and Cratus form a strategic partnership to enhance coal transport and infrastructure.
- Vessel Acquisition: Two self-propelled coal vessels secured, with plans for 18 more custom-built vessels.
- Ongoing Site Upgrades: Krajan Jetty enhancements and new transport solutions in progress.
Cokal Ltd (ASX:CKA) has reached key development milestones in its efforts to scale up production at the 266.6 million-tonne Bumi Barito Mineral (BBM) metallurgical coal project in Indonesia. The company is progressing through a strategic partnership with Cratus to enhance infrastructure and streamline coal transportation.
As part of this collaboration, Cokal and Cratus have established an Infrastructure Joint Venture (IJV) to improve transport and logistics. A primary focus of the IJV is acquiring and upgrading transportation assets, including flat-bottomed vessels that will facilitate coal movement via the Barito River to intermediary stockpiles at Buntock or the Taboneo Anchorage.
Two self-propelled coal vessels equipped with onboard cranes have already been secured to handle shipments while upgrades to the Krajan Jetty are underway. To ensure these vessels meet Indonesian classification standards, a shipyard has been engaged for necessary refitting, with Cratus leveraging its strong ties to the Indonesian Classification Society (BKI) for compliance.
Looking further ahead, Cokal and Cratus plan to introduce 18 custom-built self-propelled vessels designed with a wider body and reduced draft to optimize coal transport. Each vessel is expected to take approximately three months to construct, and the partners are seeking financial backing from shipyards to support this initiative.
Additionally, six weeks of construction work is scheduled for the Krajan Jetty to accommodate the incoming fleet, further strengthening Cokal’s export capabilities.
Cokal Ltd’s stock has been trading at 6 cents.
