JAKARTA. PT Pelayaran Bina Buana Raya Tbk (BBRM) will expand the size of its fleet by acquiring one unit of Anchor Handling Tug Supply (AHTS) for USD 12.1 million.

The vessel will be purchased by BBRM from Great Union China Limited. The purchase value is said to be equal to 40.65% of total equity of BBRM as of December 2023.

In the sale and purchase agreement, BBRM is ordered to pay deposit upfront of 10% of total value, or USD 1.21 million, by November 22, 2024.

“The remaining payment will be made gradually. The handover of the vessel will take place 390 days after the contract was signed,” added the management of BBRM in the official statement.

The management then said that the fleet expansion is the company’s strategy to increase added value and its revenue.

“After this AHTS acquisition, the company will have 2 SPB vessels and 5 units of Offshore Support Vessels (OSV), which will become the main source of the company’s revenue,” added the management.

The vessel acquisition will add into BBRM’s list of debts. However, the management is also projecting an increase in its net profit to USD 5.83 million through this vessel acquisition. (KR/ZH)