JAKARTA. PT Pelita Samudera Shipping Tbk (PSSI) announced this year's capital expenditure allocation of US$ 21 million, which will be allocated for the purchase of a number of new fleets.
Imelda Agustina Kiagoes, Corporate Secretary of PSSI, said that the company plans to buy 1 new Motor Vessel (MV) using the capex. In addition, the company, with total assets of US$ 149.46 million, is currently planning to increase its Tug and Barge (TNB) fleet.
The expansion plan, said Kiagoes, "is to continue to explore the potential for new logistics markets, including non-coal."
With fleet expansion efforts, PSSI targets its revenue to grow by 15% year-on-year (yoy) to US$ 80 million in 2021. This growth, said Kiagoes, will be supported by asset optimization, business diversification, market penetration outside Indonesia, and an increase in term leases.
"Like 2020, the term lease is one of the keys to increasing income," Kiagoes told idnfinancials.com.
As previously reported by idnfinancials.com, PSSI posted revenues of US$ 68.4 million throughout 2020. However, the company owned by PT Indoprima Marine, has not yet released its net profit. (KR/LM)