JAKARTA. PT Habco Trans Maritima Tbk (HATM), a company engaged in the logistics and shipping services, has acquired a new bulk carrier vessel for USD 13.8 million or IDR 226.6 billion.

Antonius Limbong, Corporate Secretary of HATM, mentioned that the vessel was acquired from Seacon Peru Ltd. The fund source for this new vessel purchase is a combination of loan facility from financial institution and internal cash.

“The company is currently facing limitations in the number of vessels to meet service demands from the users. This could be mitigated by expanding the fleet, thus allowing the company to accommodate service demands from the users,” said Limbong in the official statement.

For the record, said transaction is categorised as a material transaction as mentioned in Financial Services Authority (OJK) Regulation, as the total transaction value reaches 24.81% of total equity. However, this transaction need not any approval from shareholders.

It is worth mentioning that HATM has recently terminated a time charter contract with one of its business partners. “Therefore, the company needs a replacement vessel in order to attain revenue and profit target,” said Limbong. (KR/ZH)