PSSI - PT. Pelita Samudera Shipping Tbk

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JAKARTA. PT Pelita Samudera Shipping Tbk (PSSI) has completed the purchase of 1 MV General Cargo ship "Dewi Regina Manggala" for US$ 8 million, to strengthen its mining transportation & logistics line.

Imelda Agustina Kiagoes, Corporate Secretary of PSSI, said that at present, the company has 5 units of Mother Vessel cargo ship. Agustina said that the addition of another ship is part of the company's expansion this year, "It's part of the company's fleet expansion, in line with the increase in Indonesia's logistics needs for the energy sector," Agustina said on Thursday (23/5) to idnfinancials.com.

In purchasing this ship, PSSI used some of its internal cash and loan facilities from banks. "30% from the company's cash and 70% from bank loans," Agustina said.

In addition, Agustina said that she was optimistic that the addition of this unit could boost PSSI's revenue. In the first quarter of this year, PSSI generated revenue of US$ 17.7 million, 9% higher than its record in the same quarter the previous year. PSSI has even secured a contract to transport alumina in West Kalimantan to North Sumatra, with a capacity of 31,000 deadweight tonnes. (KR/AR)