MBSS reports lower coal transport volume

Courtesy of MBSS

IDX-listed sea logistics and transshipment services company PT Mitrabahtera Segara Sejati Tbk (MBSS) saw lower coal transport volumes in the first quarter of this year, resulting in lower revenue.

Parent IDX-listed integrated energy company PT Indika Energy Tbk said in a statement on Thursday that coal volume transported via floating cranes declined by 31.4 percent in the first quarter of this year to 2.4 million tons from 3.5 million tons in the corresponding period of last year.

Meanwhile, coal barging volumes of MBSS also declined by 20.2 percent to 4.9 million tons from 6.1 million tons, Indika said.

As a result, revenues in the January-March period of this year fell by 14.8 percent to US$15.6 million from $18.3 million in the same period of last year.

MBSS is a leading Indonesian provider of integrated one-stop sea logistics and transportation solutions for bulk materials, particularly coal. MBSS is part of the Indika Energy group.

MBSS Vice President Director told this portal on Tuesday that the company has set aside US$11.5 million for capital expenditure this year, to be entirely used for maintenance of its vessels.

Editing by Reiner Simanjuntak