Logindo acquires one AHTS vessel

By Romel S. Gurky

IDX-listed shipping firm PT Logindo Samudramakmur Tbk, which focusses on offshore support vessels (OSV) for the oil and gas industry, has just bought another AHTS vessel with a capacity of 8,000 hp.

Logindo President Director Eddy K. Logam said in a press statement received Tuesday that the new vessel was purchased from Singapore this month to support the expansion of the company?s business amid rising demand.

He added that 70 percent of financing for the U$17 million vessel comes from Singapore UOB bank loan, and the remainder from equity.

The new vessel expands the company?s OSV to 60 units, Eddy said.

Meanwhile, Chief Financial Officer Sundap Carulli said that Logindo?s financial performance in 2013 is expected to improve significantly. He said that based on unaudited financial report, revenue was estimated to jump by 73 percent to US$59 million last year from the previous year, while net profit surged by 86 percent to $16.5 million.

Editing by Reiner Simanjuntak