JAKARTA. PT Transcoal Pacific Tbk (TCPI), a transportation company for transporting coal, has purchased 1 Mother Vessel Bulk Carrier vessel asset.

The ship is called the BV class Supramax, which was produced in 2009. "The transaction value is US$ 14.8 million," said Bintang Septo Drestanto, Director of TCPI, in an official statement.

The ship was purchased from PT Karya Samudera Insani (KSI). Drestanto emphasized that TCPI and KSI have no affiliate relationship.

"The source of funding for the purchase is 80% from one of the government-owned banks, and the rest comes from internal funds," explained Drestanto.

It is hoped that the additional assets will support TCPI's revenue performance in the future. According to idnfinancials.com data, the company had cash and cash equivalents of US$99.79 million as of September 30, 2023. Meanwhile, its total assets were US$3.12 billion. (KR/LM)