JAKARTA. PT Soechi Lines Tbk (SOCI), a freight forwarder, generated a net income of US$ 132.4 million as of December 2018. The biggest contributor to the net income was the shipping segment (US$ 120.5 million) and shipyard segment (US$ 11, 9 million).
According to the company's financial statements, the company recorded a profit for this year of US$ 13.4 million in 2018, while its EBITDA (profit before interest, tax, depreciation and amortization) was recorded at US$ 67.4 million, up by 6% from its EBITDA in 2017 (US$ 63.6 million).
As of December 2018, the company has 39 Indonesian-flagged vessels, representing an aggregate capacity of 1.58 million DWT. The company recorded an average vessel utilization of 83.5% in 2018. In addition, the company has successfully completed the conversion of the ship to floating storage and offloading (FSO) while also acquired two vessels in 2018. (LK/AR)