Marine logistics company PT Habco Trans Maritima Tbk (HATM) is entering international shipping business after its initial public offering (IPO) to the Indonesia Stock Exchange (IDX) on July 26, 2022. Habco will use the IPO funds in procuring vessels for its expansion to the shipping business this year.
A subsidiary of PT Habco Primatama, HATM was established in 2019 but due to licensing the company started its business in 2020. The company started to expand to an integrated maritime logistic network offering versatile and modern geared bulk carriers serving Indonesia and Asian market. The main segment of the company is transporting coal, nickel, clinkers and others.
The company planned to use the IPO funds to procure vessels to expand its shipping business and help the government in its national energy security through shipping.
“We are catching up with the potential international market through shipping such as from Malaysia to the Philippines. As the route has potential in many commodities,” Habco Trans President Director Andrew Kam said as quoted by bisnis.com.
He added that in 2020, the company started operating after procuring a ship from Qatar and by now HATM would use the IPO funds to buy a new ship type called Supramax with a tonnage of 50.000 tons. He did not mention the amount for the procurement.
According to Kam, the company has 90% of its shipping for coal while the others are metal and clinkers.
“For now, our business majority is still from the coal mining commodities because of high demands from state-owned electricity company PT PLN to supply coal to their coal-fired power plants (PLTU) that needs a special certified cargo ship,” he said.
PLN projected a need for coal for its electricity in 2022 at 115 million to 125 million tons of coal. However, the obstacles remain with the ongoing zero net emission targeted for 2060. The government plans to reduce its need for coal-based electricity plants. Therefore, the need for coal will be reduced in the coming years.
By 2021, Habco Trans achieved revenue target of IDR252 billion, coming from its freight business and time charter.
