JAKARTA (TheInsiderStories) - Shipping operator, PT Sillo Maritime Perdana Tbk (IDX: SHIP) has won eight lease contracts with a total values of US$336 million throughout 2020 in the middle of COVID-19 outbreak, the management announced last week. The contracts included new and extension programs.
One of extension lease contract received from Petrostar from Alaska with term 10 years in earlier of 2020 with valued of $138 million. The issuer has also obtained a loan facility of $4 million to buy three new ships purchased in this year.
In May, Sillo Maritime reported buying and handing over a motorized boat named “Bahari 77”. The purchase was made from PT Pelayaran Flora Bahari Marine Services worth Rp29.7 billion ($2.12 million). In June, the operator obtained a contract to provide primary and secondary ship service worth of $7 million issued by Saka Indonesia Pangkah Ltd. The new contract has a four-year duration that will expire on June 23, 2024.
In November 2020, the company purchased oil tanker with worth around $18.5 million. This transaction was carried out byPT Petrocean Indo Pasifik, belonging to Sembrani Maritime Ltd, its Singapore-based unit. Today, the company and its subsidiaries have a total of 20 fleets after last year the issuer has purchase three vessels for $5 million and sold KM Laksmini for $1.25 million.
In the third quarter of 2020 posted a revenues of $58.61 million with a net profit of $12.28 million. Last year, the operator set revenue targets and net profit of $78.80 million and $24.04 million, respectively. For background, Sillo Maritime was founded on June 1, 1989 and started its business as an agent of international shipping company.
In 2008, the company bought the first vessel, the Anchor Handling Tug Supply which then operated under the name Ina Lalu. On June 16, 2016, the company listed shares by offering shares of Rp140 per unit and reaching funds of Rp70 billion.
Chairwoman of the Indonesian National Shipowners Association, Carmelita Hartoto, noted that the potential of the national shipping industry has not been maximized by the industry due to limited human resources and the lack of supporting component industries. She said, to carry out the revitalization of national shipping business players need an investment of $16.5 billion.
US$1: Rp14,000
Written by Editorial Staff, Email: theinsiderstories@gmail.com
