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CORPORATE STRATEGIC - JAKARTA. The shipping issuer, PT Humpuss Maritim Internasional Tbk. (HUMI) is targeting the Middle East market for expansion this year.
HUMI's CEO, Tirta Hidayat, explained that this market expansion or expansion is carried out offshore and explores new fields in the Middle East.
"This step is expected to be the main driver of ship demand, as ships play a crucial role in transporting materials and essential resources for offshore production," Tirta explained in a virtual public presentation on Monday (26/2).
He further explained that the ship market in the Middle East is experiencing strong growth, with a Compound Annual Growth Rate (CAGR) of 6.50%. This growth is expected to drive the market value to reach an impressive figure of US$ 32.92 billion by 2028.
Tirta also conveyed that they recently signed an agreement with Dubai Ports World (DP World), a multinational logistics company in Dubai, United Arab Emirates, to provide financing with low interest. In the future, HUMI can transport various commodities including crude oil and liquefied natural gas (LNG).
Furthermore, in DP World, HUMI, along with 95 companies worldwide, including in America, Canada, Asia, and Africa, provides harbour tugs for these ports.
HUMI is focused on expanding its client network through international business expansion. According to Tirta, after more than 30 years of cooperation with large Japanese companies, in 2023 the company will also expand international cooperation with American companies.
Not only that, this year the issuer owned by Tommy Soeharto is also preparing a strategy to increase growth outside government agencies. Tirta explained that HUMI's client portfolio currently predominantly consists of government entities, with 80% of clients represented by institutions such as Pertamina, Pelindo, and PLN.
He stated that his strategic goal is to increase this portfolio by actively pursuing and establishing partnerships with private sector organizations, so that the composition becomes more balanced.
"Expansion of private sector clients depends on proactive efforts to reach international customers, foster global partnerships, and diversify the client base for sustainable growth," he added.
HUMI itself is reluctant to disclose the contract target it is aiming for this year. He explained that the figure is still being discussed. However, they will continue to strive to expand their client network both nationally and internationally.
With this work plan, HUMI is targeting a net profit growth of 20.50%. Tirta also added, the non-audited end of 2023 achievement, the net operating profit reached US$ 14.70 million.
"This means an increase of 35% compared to the net profit in 2022, where management initially targeted 20.00% at the end of 2023," he said.
