JAKARTA – PT Newport Marine Services Tbk (BOAT), a company engaged in ship leasing, experienced a significant sales increase in 2024.

"Our financial performance showed a positive trend, with sales in September 2024 reaching USD 8.1 million, an increase of 20.2% year-on-year (yoy),” said Ahmad Wisya Pratama, BOAT's Finance Director, in a written statement to the IDX on Friday (17/1).

This positive performance aligns with the company’s strategy to continuously expand its ship leasing services, particularly those related to the oil and gas sector. The achievement was also driven by the recovery of global oil commodity prices, reflected in higher charter rates.

As noted, the oil and gas industry is predicted to continue its positive growth in 2025, in line with global economic recovery and rising energy demand, especially in Asian and Middle Eastern markets.

Additionally, the company anticipates improved cash flow and future expansion following significant debt repayments and an extension of loan tenures until 2030.

To prepare for market demand, BOAT has allocated USD 1 million in capital expenditures (capex) for 2025. These funds will be used to update the company's fleet, ensuring that BOAT can meet customer needs with a more modern and efficient fleet.

With these achievements, Newport Marine is optimistic about maintaining its positive growth trend in 2025, supported by a strategy focused on increasing operational capacity and expanding into international markets. (DK/ZH)