Logistics and shipping company PT Samudera Indonesia Tbk is aggressively expanding its business by allocating capital expenditure (Capex) worth US$57 million in the first semester of 2022.
Established in 1964, the company’s origin could be traced back from 1953. With nearly 60 years of experience in shipping logistics, the company listed itself on the Indonesia Stock Exchange (IDX) in 1999. Samudera’s shares experienced a significant increase, recording a 155.07% in the year 2022 alone.
The company realized the US$57 Capex, or almost half of its 2022 Capex of US$126 million.
Samudera President Director Bani Maulana Mulia said on August 1, 2022, that the Capex would be allocated to ports, shipping and logistics as well as for aggressive business expansion. He said the business expansion included purchasing new tankers and container ships. He added that the company was in the process of investments and acquisitions with several unnamed partners.
Since the COVID-19 pandemic struck, many shipping companies suffered financial losses. Quoted from Antara news agency, the shipping industry went through hardships during the pandemic such as turnovers from the sector decreased by 30%.
Shipyard company PT Adiluhung Saranasegara Indonesia President Director Anita Puji Utami said that the ship production decreased drastically during the pandemic. Prior to the COVID-19 pandemic, ship production reached 10 annually but in the past two years it declined to only two ships per year.
