Samudera Indonesia, a publicly-traded shipping company on the Indonesia Stock Exchange, has disclosed plans to expand its fleet by adding a minimum of six new ships by 2024.
Bani Maulana Mulia, the CEO of Samudera Indonesia, announced the acquisition of 11 new ships for this year, with nine already received as of the third quarter of 2023. The tenth ship is slated for acquisition next week, ensuring the company’s alignment with its growth strategy.
For the following year, Samudera Indonesia aims to introduce at least six more ships, two of which will originate from Japan, while the remaining four will be sourced from China.
Bani hinted at the potential for additional ships under construction, signifying possible growth beyond this baseline.
In terms of performance, Bani anticipates a lower performance in the fourth quarter of 2023 compared to the previous year, posing notable challenges. He predicts reduced revenue and net profit compared to the prior year but underlines the overall positivity in Samudera Indonesia’s performance.
Looking ahead, Bani foresees ongoing challenges, attributing part of the pressure to the introduction of multiple new ships, leading to rate adjustments, stabilization, and the replacement of older vessels.
Financially, Samudera Indonesia reported a service revenue of US$397.64 million (approximately Rp5.96 trillion based on the JISDOR exchange rate as of June 28, 2023) in the first half of 2023, marking a 27.85% decline from the same period in the previous year when service revenue was US$551.15 million.
Net profit attributable to the parent entity’s owners also saw a 55.30% decrease, amounting to US$51.74 million (approximately Rp776.15 billion) compared to the prior year’s US$115.76 million during the same period.