Cipta Krida to purchase one landing craft tanker this year

PT Cipta Krida Bahari said it will add one more offshore vessel Landing Craft Tanker (LCT) with capacity of 1,500 dwt this year as well as seven tugs & barges, a company official said.

The vessels will be used to serve offshore activities of oil and gas companies, while tugs & barges to support logistic activities of Cipta Krida.

General Manager Sales & Marketing of PT Cipta Krida Bahari, Denny Fikri, said that the LCT is scheduled to be delivered by the end of this month, delayed from the initial schedule of July.

The company invested US$ 3 million for the LCT and US$ 14 million for tugs and burgs. The arrival of the new LCT vessel will add the company?s LCT vessels to five units.

The company used 20 percent of internal cash flow to purchase the vessels and the remaining needed funds came from external borrowings.

The funds to purchase the vessels are part of the company?s capital expenditure (capex) for this year which amounts to US$ 25 million. Around US$ 4 million of the funds will be used to build warehouse in Cakung (North Jakarta), Samarinda, Balikpapan and Banjarmasin.

The company plans to add two more LCT vessels next year. Cipta Krida operates and owns those vessels through its subsidiary PT Alfa Trans Raya. (giok/roffie)