Humpuss plans to acquire eight vessels in 2017
Thursday, December 22 2016 - 04:40 AM WIB
IDX-listed shipping company PT Humpuss Intermoda Transportasi Tbk will allocate US$130 million for capital expenditure next year to finance the acquisition of eight vessels.
Humpuss President Director Theo Lekatompessy said on Wednesday that the company is seeking to grab new contracts by participating in several tenders.
Theo explained that the company plans to acquire two gas tankers, each worth US$18 million and $30 million, to be dedicated for the FSRU Java 1 and FSU Benoa projects. He said that the FSRU Java 1 project has been won by a consortium led by state-owned oil and gas firm PT Pertamina where Humpuss is a member.
Humpuss is also planning to acquire to petrochemical tankers with combined investment of $22 million. The company will also acquire one unit of offshore support vessel worth $13 million, one unit of dredging vessel worth $17 million, and one unit of marine support vessel worth $5 million.
Theo said that the company will seek bank loan to help finance the 2017 capex.
He said that the realization of the planned vessel acquisition will depend on progress of tenders participated by the company. If everything goes well, he said, the eight vessels could help Humpuss increase revenue next year by 59 percent from the estimated $70.44 million for this year.
Theo said that this year, Humpuss only acquired three vessels this year as many tenders in the oil and gas industry and electricity sector were canceled.
The firs vessel, the LNG Triputra, started operation in April, with contract value of $110 million for seven years, supporting PT Pelindo Energy Logistik for the delivery of LNG from Bontang plant to PT PLN.
Another vessel, called Griya Melayu, was deployed for transport of methanol from Sojitz Bontang to various locations across the country, with contract value of $60 million for five years.
The third vessel, called Griya Cirebon, was deployed for the transportation of oil and gas output of PT Pertamina with contract value of $5 million per year. ?We have just signed a one year contract, with option for extension,? Theo said. The 50,000-dwt vessel is worth $12.5 million.
Editing by Reiner Simanjuntak