SHIP buys gas carrier worth US$80.5 million

PT Sillomaritime Perdana Tbk (SHIP) expanded its fleet by purchasing a Very Large Gas Carrier (VLGC) for US$80.5 million – equivalent to Rp1.34 trillion, at an exchange rate of Rp16,712.25/US$, on Wednesday (December 31st).

The purchase of this new vessel was made by the Company's subsidiary, PT Cassa Mega Lautan (CML). The vessel, purchased from New Gas Taurus Limited, has a gross tonnage of 46.8 thousand tons and a net tonnage of 18.8 thousand tons.

It should be noted that this transaction value is equivalent to 36.86% of the Company's equity as of September 30, 2025, which amounted to US$218.39 million. Therefore, this transaction is a material transaction.

"It is hoped that the addition of this VLGC vessel will contribute approximately 5% of the total projected revenue for 2026 and serve as a stepping stone for the Company to enter the international shipping market," said Hans Raymond Ekajaya, the Company's Finance Director, in an official press release in early December 2025.

The Company has secured a vessel charter contract with a Singaporean company to enter the international shipping market, with a one-year term that can be extended for another year.

SHIP recorded a revenue slowdown at the end of the third quarter of 2025, down 4.61% year-on-year to US$127.91 million. This impacted net profit, which declined 17.41% to US$13.13 million.

SHIP operates a fleet of vessels with diverse uses, including Floating Storage Offloading (FSO), oil tankers, gas tankers, and offshore support vessels such as harbor tugs, supply vessels, crew boats, utility vessels, platform supply vessels, and anchor handling tug supply vessels.

As of the end of September 2025, SHIP recorded total assets of US$465.45 million, with liabilities of US$247.06 million. (ZH)

Source : idnfinancials.com