Aiming For IDR 200 Billion Funds, PT Pancaran Samudera Transport Tbk Ready For IPO

Photo: Aris Nurjani/VOI

JAKARTA - A shipping and coal transportation service company, PT Pancaran Samudera Transport Tbk will hold an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

The company will use the PSAT ticker code which will be scheduled to take the floor on the IDX on July 8, 2025.

PSAT will release a maximum of 222,353,000 shares or represent a maximum of 15 percent of the total issued capital.

The company set the initial public offering price aka Initial Public Offering (IPO) at IDR 850-IDR 900 or will receive fresh funds of as much as IDR 200 billion.

In addition, the company also held an Employee Stock Allocation (ESA) Program which was determined based on Deed No. 27 dated March 7, 2025, by allocating a maximum of 555,000 shares of shares, or a maximum of 0.249 percent of the total shares offered in the Initial Public Offering.

In this corporate action, the company has appointed PT Trimegah Sekuritas Indonesia Tbk as the Implementing Underwriter.

President Director of PT Pancaran Samudera Transport Tbk (PSAT) Susanto said that the funds obtained from the Initial Public Offering proceeds, after deducting all emission costs, will be used to deposit capital to the company's subsidiary, namely PT Pancaran Karya Shipping (PKS), in equity, a maximum of 175.000 (one hundredty-five thousand) new shares to be issued by PKS amounting to IDR 175 billion.

He added that the funds will be used by PKS for the purchase of 2 bulk carriers, with the aim of strengthening the fleet in the company's project.

"The plan to purchase the bulk carrier is based on the Ship Sale and Purchase Binding Agreement between PT Pancaran Maritime Transportindo (PMT) and PKS. PMT is an affiliated party with the company," he explained, Tuesday, June 24.

Susanto said that all the remaining funds would be used for the company's working capital needs in the form of ship fuel.

According to him, now is the right time to walk around the Indonesian Stock Exchange Market because the coal shipping and transportation service industry has very positive prospects in line with the increasing energy needs, both in the domestic market and exports.

Susanto said that coal demand, especially for Steam Power Plants (PLTU) continues to show an upward trend and this encourages high demand for reliable and efficient sea transportation services.

"Being an open company is one of our commitments to continue to be present is one of the best solutions for our partners," he said.

Susanto said domestic demand is also projected to increase by 2025, as reflected in the potential increase in the Domestic Market Obligation (DMO) coal which is estimated at 229.3 million tons, an increase of 4.05 percent compared to the 2024 DMO target of 220 million tons.

According to him, this spike reflects the increasing national energy demand and provides a significant opportunity for shipping companies to increase transportation volume, both for domestic and export distribution.

For information, based on a report from the Ministry of Energy and Mineral Resources, national coal production in 2024 will reach 830.96 million tons, far exceeding the initial target of 710 million tons, of which around 433.17 million tons are exported to various countries, while 377.85 million tons are absorbed by the domestic market.

Susanto said that with a large production and distribution scale, sea transportation plays a very crucial role in maintaining the smoothness of Indonesia's coal supply chain.

"This is becoming increasingly important considering the concentration of coal mines in Sumatra and Kalimantan, which geographically require shipping by sea," he said.

In addition to economic factors, he conveyed that regulations related to shipping safety and environmental protection are increasingly being tightened, where companies that are able to implement high standards of Health, Safety, and Environment (HSE) will have a greater competitive advantage.

According to him, the company has this commitment to high safety and operational standards, can increase customer confidence and ensure more sustainable operations.

Susanto said that overall, with rising coal demand, high production targets, large investments in port infrastructure, and compliance with HSE standards, the company has very positive business prospects.

"The company will be able to take advantage of this opportunity to expand the market, increase operational efficiency, and strengthen its position in the shipping and coal transportation industry," he said.