Pelindo Subsidiary Prepares IDR 150 Billion To Add 2 Ships In 2024

JAKARTA - PT Jasa Armada Indonesia Tbk (IPCM) has prepared capital expenditure (capex) worth IDR 150 billion which will be used to add two new ships in 2024.

"In 2024, two tugboats will be added with a capex of IDR 150 billion, funding is still internal, nothing from outside," said IPCM President Director and Director of Commercial and Business Development, Shanti Puruhita, quoting Antara.

Shanti is not too worried about the company's business in the transportation and logistics sector in 2024, because it will continue to operate optimally in the midst of the dynamics of the political year.

"Our expansion target is organic and inorganic. Organic, there is a business plan launched by Pelindo Group, to inorganicize a lot of great potential under Indonesian waters," said Shanti.

In 2023, the business entity of PT Pelabuhan Indonesia (Pelindo) has allocated capital expenditures worth IDR 140 billion for the procurement of two new Abimanyu-type vessels.

The procurement process is targeted to be completed by the end of the year, in which the process of working on the two Abimanyu-type ships takes up to 18 months, so it is hoped that it will be completed in June-July 2025.

As of November 2023, the company was recorded to have a total of 95 ships, consisting of 61 tugboats, 29 guided motors, and 5 electoral ships.

Furthermore, next year the company is targeting operating income to reach more than IDR 1 trillion, with profit targeted to exceed this year's achievement.

The company's operating revenue was recorded at IDR 858.1 billion in the third quarter of 2023, or an increase of 28 percentyear on year (yoy) compared to IDR 671.05 billion in the same period the previous year.

IPCM Finance and Human Resources Director Reini Delfianti revealed that the main contributor to the company's revenue was obtained from ship services worth Rp756.28 billion or 88.13 percent of the total revenue.

Then, transportation services and others worth IDR 70.33 billion or 8.19 percent, as well as ship management services worth IDR 31.50 billion or 3.67 percent.

Meanwhile, the company's profit was recorded at IDR 119.78 billion in the third quarter of 2023, or an increase of 18 percent (YoY) compared to IDR 101.67 billion in the same period the previous year.