JAKARTA – PT Transcoal Pacific Tbk (TCPI) has set aside IDR 700 billion in capital expenditure (CapEx) for 2025 to expand its fleet of vessels.

As of 2023, TCPI owns 165 ships and operates a total of 267 vessels, including tugboats and barges, as well as floating cranes and mother vessels.

During the company’s Public Expose held today (20/11), the management revealed projections for coal and nickel ore transportation volumes to reach 43.43 million metric tons (MT) in 2025, along with 31,500 kiloliters (KL) of crude palm oil.

With this operational boost, the company aims to achieve a revenue milestone of IDR 2.2 trillion by the end of 2025.

As of September 2024, TCPI reported a modest 9% year-on-year (yoy) revenue increase, amounting to IDR 1.4 trillion. However, this figure falls significantly short of its 2024 revenue target of IDR 2.6 trillion.

Consequently, management has revised its 2024 revenue projection downward to IDR 1.95 trillion. “Our main challenge has been adverse weather conditions,” management explained during the Public Expose. (ZH)