Newport Marine Services profit jumps 73% on stronger vessel charter demand

By Romel S. Gurky

Offshore support vessel provider PT Newport Marine Services Tbk (BOAT) reported a 73% rise in net profit for 2025, driven by increased activity in its vessel charter segment and improved financial management.

The company posted net profit of US$2.04 million for the year ended Dec. 31, up from $1.17 million in 2024, while revenue rose 54% to $17.71 million, according to its financial statement.

The improvement was mainly supported by higher fleet utilization following the securing of new charter contracts, the company said.

The company said the stronger performance reflected the effectiveness of its commercial and operational strategy.

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“The growth in net profit in 2025 was mainly driven by increased activity in the charter vessel segment,” the company said, adding that new projects had supported higher utilization of the company’s fleet.

Net profit margin improved to around 11.5%, compared with 10.2% a year earlier, supported by cost efficiency and better operational performance.

The company also reported stronger operating cash flow, which rose to $5.03 million from $2.32 million in the previous year, driven by higher activity and improved working capital management.

The company added it would continue to pursue expansion cautiously, taking into account global macroeconomic conditions and volatility in energy markets.

The offshore marine services sector has shown signs of recovery in recent years, supported by increased oil and gas exploration and production activity, boosting demand for offshore support vessels, the company said.

Editing by Alexander Ginting