Kinerjapay Corp. Schedules Third Steam Coal Shipment

JAKARTA, Indonesia, June 25, 2021 /PRNewswire/ — KinerjaPay Corp (OTCPK: KPAY) a Payment Gateway and Ecommerce Company based in Indonesia with recent changes in its subsidiary Company, P.T. KinerjaPay Indonesia, to include mineral and commodity trading such as coal and other general commodities, today announced that the Company is currently preparing another shipment schedule of Steam Coal to China. The Company reported that it has just received the payment guarantee in the format of Letter of Credit from the Buyer’s Bank in the amount of US$1,650,000. The Company is now preparing the contracts with the miners and barges to transit from the stockpile to the jetty at Muara Jawa, East Kalimantan, for loading.

This next shipment will load min 50,000 metric tons of coal with Coal Grade GAR 4,200 kcal/kg (ARB) and max Sulphur 0.5% ADB Rate. The Company’s representative has taken samples for laboratory test in the previous weeks, with satisfactory results. The vessel, MV DZ WEIHAI bound to Fangcheng, South China, is scheduled to arrive on and about ETA 28^th June 2021 at Muara Jawa port, in East Kalimantan. The vessel’s maximum capacity is registered at 55,741 MT max load.

The Company also reported that its previous shipment to Zhenjiang on MV YANGTZE with loading capacity of 45,000 MT was postponed and rescheduled due to price adjustment. The Company is in receipt of a new letter of credit from the Korean buyer reflecting the significantly increased price from what was…