Samudra Indonesia (SMDR) Schedules to Add 12 Ships This Year

February 05, 2024, 10.40 PM | Reporter: Vina Elvira

ILUSTRASI. Aerial photo of the MV Amanah Morowali at anchor about four nautical miles in the waters of the Java Sea, Semarang, Central Java, Tuesday, (19/10/2021). The largest bulk goods carrier owned by PT Samudera Indonesia with a capacity of up to 90 thousand tons serves domestic bulk transportation from Indonesia to exports to China. BETWEEN PHOTOS/Aji Styawan/rwa.

ISSUER NEWS - JAKARTA. Shipping issuer PT Samudera Indonesia Tbk (SMDR) is preparing a rather massive fleet expansion agenda throughout 2024.

SMDR's CEO Bani Maulanan Mulia stated, although the company's business conditions in 2024 are hit by various challenges, there are also not a few business growth opportunities for SMDR.

Therefore, they aim to add a total of 12 fleets this year. With details, 4 container ships from China, 2 container ships from Japan, 2 tug boats from Semarang, 2 barges from Madura, and 2 tankers are scheduled to be received in Singapore.

“The combination of domestic Indonesian business exposure & SMDR's international business gives us high flexibility to seize business opportunities,” Bani revealed to Kontan.co.id, recently.

He continued, in addition to these 12 units, it is possible that Samudera Indonesia will add more fleets this year. The plan for additions beyond these 12 units is under review.

In order to maximize the expansion agenda this year, Samudera Indonesia is preparing a capital expenditure (Capex) allocation of US$ 280 million. Besides being used for adding ships, this capex fund is also used for other expansion and operational activities.

“The allocation is for adding ships, adding trucks & trailers, adding warehouses & logistics facilities, adding new ports & loading and unloading equipment at ports, and others,” Bani explained.

As additional information, SMDR recorded a decline in financial performance in the third quarter of 2023. This is seen from SMDR's service revenue which fell 32.61% with a value of US$ 575.42 million, compared to the same period last year at US$ 853.93 million.

This revenue comes from three sectors, namely shipping and agency services worth US$ 445 million, logistics and port services worth US$ 110.32 million and other sectors worth US$ 20 million.

Then the company's net profit also shrank by 64.77% with a value of US$ 92.57 million compared to the net profit until September 2022 which was at US$ 262.8 million.