Humpuss Intermoda Plans to Invest of about $315million in 2015 | HITS

Humpuss Intermoda Plans to Invest of about $315million in 2015

published on : 2014, November 14

PT Humpus Intermoda Transportasi Tbk. (HITS), a public listed sea transport Company, in its Public Expose just recently set a total investment of about $315million in 2015 to fortify its position as significant players in sea transport business in response to the new government’s plan to boost maritime based industry in the next five years.

In more detail HITS will plan to buy 3 LNG Shuttle tankers worth of about 205million, 2 oil product tankers worth $30million, 2 AWB Offshores worth $50million and one for cement bulk vessel worth of about $15million.

The investment is aimed at for example to double its LNG carrier business capacity both to import it and transport in domestic market. In the field of petrochemical and oil, the Company will also engages in transporting fuel (BBM) and liquid chemical in domestic market. As regard its off shore support vessels, the Company is going to support its oil as well as LNG cargo services. As for its bulk service particularly mining cargo the Company is planning to sell off (divest) some its fleets and will focus only in end product. In field of agency and crewing the Company also sees big opportunity to provide relevant service in line with new government’s plan to fortify maritime industry sector.

HITS have extended experiences in manning agency, provide training center as well as health center for the sector. This year Company also opens new office in Gresik for manning agency and manages of about 1112 crews in more than 41 vessels

In the recent expose, HITS’s President Theo Lekatompessy highlights Company’s current performance that in general is still under the Company’s target due to current macro-economic and political situation. In general performance of the Company, satisfied, Theo also indicates some of it business particularly its bulk service need to be restructured.

In more specific management of the Company also indicates of restructuring its bulk service to be more focus on end product instead of carries raw materials and at the same time also reduce number of old vessel to make its operation more efficient. “We are also plans to set an strategic alliance with potential partners,” says Theo

Company has efficaciously gone through hard situation and restructured its business operation, legal, financial/debt in 2012 and set year 2013-2014 as “year of stabilization”. “We have set out the period of 2015 as recover year and will rebound in year 2016,” says Theo. (CS)