Humpuss Maritime Strategic: Allocates $51.5 Million for Expansion with 9 New Ships

February 27, 2024, 04.20 AM  | Reporter: Amalia Nur Fitri
Humpuss Maritime Strategic: Allocates $51.5 Million for Expansion with 9 New Ships

ILUSTRASI. Kontan - Humpuss Intermoda Transportasi Kilas Online

CORPORATE STRATEGIC - JAKARTA. Shipping issuer, PT Humpuss Maritim Internasional Tbk (HUMI) plans to add 9 ships this year. HUMI's CEO, Tirta Hidayat, said the addition consists of 3 oil and chemical tankers, 1 LNG vessel, and 5 tugboats.

"So far, HUMI has a total of 34 ships, consisting of 1 FSRU, 2 LNG, 5 oil, 6 chemical, 14 offshore, and 6 marine support ships," he explained in an incidental presentation that took place virtually, Monday (26/2).

By 2029, HUMI aims to have a total of 93 ships to meet market needs. He continued, that to support this year's work plan, they have prepared a capex fund of approximately US$ 51.50 million or around IDR 802.83 billion.

Read Also: Humpuss Maritime (HUMI) Targets Net Profit to Increase 20.5%

The fund will be adjusted in the future based on the company's needs.

Tirta further explained the addition of oil & chemical ships is a form of the Company's expansion strategy in meeting the increasing need for methanol as a biofuel. He hopes that the chemical business line this year can increase and they can successfully take a larger market share.

Not only that, HUMI is also adding a tanker this year to transport caustic soda and sulfuric acid which are soaring along with the growth of nickel in Indonesia.

"With the addition of these ships, it will be a positive catalyst to boost the company's performance, especially in the oil & chemical business line," he explained.

Read Also: Siapkan Capex US$ 51,5 Juta, Humpuss Maritim (HUMI) Berencana Tambah 9 Kapal

For information, in the third quarter of 2023, HUMI recorded a net profit of US$ 11.6 million or grew significantly by 33.7%, compared to the net profit achievement in 2022 of US$ 8.7 million.

This achievement comes from the operating income as of September 30, 2023, amounting to US$ 73.9 million, or successfully grew by 7.3% compared to the previous year's achievement of US$ 68.8 million.

This was driven by an increase in ship rental service revenue, especially in the chemical segment, reaching US$ 24.1 million, an increase of 489.0% compared to the previous year's achievement of US$ 4.1 million.

The company's ship rental service revenue was recorded at US$ 72.1 million as of September 30, 2023, an increase of 7.4% compared to September 2022 of US$ 67.2 million.

"For 2024, HUMI targets a net profit growth of 20.50%. This is a forecast based on last year's performance and the stability of growth every year will continue to be maintained," he said.

Editor: Syamsul Azhar

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