Tommy Suharto's Shipping Company Successfully Raised A Profit Of IDR 48.21 Billion From The Previous Loss Of IDR 10.48 Billion

JAKARTA - Tommy Suharto's shipping company, PT Humpuss Intermoda Transport Tbk (HITS) managed to earn a net profit of 3.36 million US dollars or equivalent to IDR 48.21 billion (exchange rate of IDR 14,349) in the first quarter of 2022. This achievement is a positive performance in the first quarter of 2022. In the same period in 2021, the company earned a net loss of 730.9 thousand US dollars (approximately IDR 10.48 billion).

HITS President Director Kemal Imam Santoso said this net profit was driven by the achievement of operating revenues in the first quarter of 2022 of IDR 363.33 billion. This number jumped 43.91 percent year-on-year (yoy) from IDR 251.86 billion in the same period last year.

"The solid topline position is still supported by the company's vessel charter service business segment. In detail, liquefied natural gas vessel charter services contributed US$7.78 million in the first quarter of 2022," he said in a written statement, quoted Monday, June 6.

In addition to being the largest revenue contributor for the company, liquefied natural gas vessel charter services are also the business sub-segment with the largest growth, which is around 135.08 percent YoY compared to the first quarter of 2021 with an incision of US$ 3.32 million.

Meanwhile, revenues from other HITS business segments such as ship management services, crew management services, and compact crew training centers grew by 242.71 percent, 4.96 percent, and 71.53 percent, respectively, to 930,984 US dollars, 366,673 US dollars, and 93,204 US dollars.

To boost performance, the company also signed a strategic cooperation agreement with a dredger construction service company from the Netherlands, Amsterdam Shipyards BV (ASY).

Under this agreement, HITS through one of its subsidiaries, PT Humpuss Maritim (HUMI) will build the Trailing Suction Hopper Dredgers (TSHD) vessel and appoint ASY as the party that builds, commissions, and delivers the vessel to Indonesia.

The shipbuilding, testing, and trial work will be carried out at ASY's shipyard in Amsterdam, the Netherlands, with a material loading capacity of between 3,000 and 4,000 cubic meters. It is planned that this project will be implemented this year.

"Technically, we will discuss intensively for its implementation, both from a technical and commercial perspective," he said.