JAKARTA. PT Pelita Samudera Shipping Tbk (PSSI) recorded revenue growth of 22% Year on Year (YoY) to US$ 62.7 million during the period of January-October (10M) 2019, supported by rental income for Motor Vessel (MV), Floating Loading Facility (FLF), and Tugs and Barges (TNB).
Imelda Agustina Kiagoes, Corporate Secretary of PSSI, said that the company's rental income increased significantly by 253%. "The highest increase in rental income was recorded from the MV segment, followed by FLF and TNB," Kiagoes said through an official statement received by idnfinancials.com on Thursday (28/11).
Kiagoes explained that the TNB business line contributed 50% of PSSI's EBITDA as of October 2019. Meanwhile, the FLF business line contributed 32% and MV contributed 18%. As of October, long-term contracts accounted for 90% of all the company's FLF contracts.
PSSI has spent US$ 45.8 million of its capital expenditure budget of US$ 61.3 million as of October 2019, mostly for fleet expansion. (KR/AR)