PSSI - PT. Pelita Samudera Shipping Tbk

Rp 164

-8 (-4,65%)

JAKARTA. PT Pelita Samudera Shipping Tbk (PPSI) recorded revenue growth of 16% in the first semester of this year to US$ 36.1 million.

Imelda Agustina Kiagoes, Corporate Secretary of PSSI, said that the growth was supported by term rental income from the Motor Vessel (MV) bulk carrier business line. The company also got revenue from tug and barge services, as well as the Floating Loading Facility (FLF). As of the end of the first semester of this year, the company said that 3 out of 5 MV vessels already rented for the long-term.

"The transportation capacity of the MV fleet is 205.6k dwt (deadweight tonnage), increased almost 7-fold from June 2018," Kiagoes said on Tuesday (30/7) today through an official statement received by idnfinancials.com.

The tug and barge segment contributes 47% of the company's total revenue, with the long-term contract at the end of June 2019 reaching an average of 75% and 25% of the base spot. Meanwhile, FLF's business segment contributes around 30% of the company's total revenue.

PSSI is optimistic that revenue in the tug and barge segment, as well as FLF in the second semester can be higher. The reason, said Kiagoes, is that a number of contracts have been extended at the beginning of semester II. (KR/AR)