Soechi eyes higher revenues next year on ongoing Pertamina tanker vessel contracts

Related Articles

Batamec secures 2 shipbuilding contracts

September 3, 2016

Sillo Maritime lists shares on IDX, to buy FSO next year

June 17, 2016

Mermaid charters-in dive support vessel to Mermaid Nusantara

June 14, 2016

JAKARTA (rambuenergy.com) – PT Soechi Lines Tbk, a tanker vessel operator, said it expects to higher revenues next year supported by ongoing contracts with state owned oil and gas company to provide tanker vessels.

Soechi Lines Finance Director Paula Marlina was quoted by Kontan daily as saying that the company expects revenues to increase to US$172 million next year from US$ 108 million projected for this year, representing an increase of 59.26 percent.

To support the revenues target, Soechi Lines plans to spend US$80 million to buy seven tanker vessels with capacity of 30,000-100,000 deadweight tons (DWT). “All these vessels will be used to distribute fuel to Pertamina,” Marlina said.

Marlina said out of 200 units of tanker vessels are currently operated by Pertamina. Of these vessels, 30 tanker vessels are owned by Soechi Lines. The arrival of the seven new tanker vessels will add the company’s fleets to 37 tanker vessels.

Marlina said the falling of oil price in the global market should have limited impact on the company as there is still need for oil or fuel distribution. (*)