JAKARTA - PT Buana Lintas Laut Tbk (BULL) is optimistic about its net profit margin increasing following higher vessel charter tariff applied in the fourth quarter of 2024. This positive projection aligns with BULL’s bullish stock performance throughout the year.

Wong Kevin, Director of BULL, mentioned that net profit margin was slightly weakened in September 2025 due to seasonality of the market.

“As the air temperature warms up in the third quarter, the market will weaken,” Kevin said, as quoted during Public Expose.

According to Kevin, the most favourable period for oil tanker business in a year will be at the first and fourth quarter.

“Therefore, in Q4, especially heading into Q1, the company believes that charter tariff will significantly increase, thus improving gross profit margin,” Kevin said.

In Q3 2024, BULL’s net profit margin was recorded at 12.28%, down from 22.73% seen in the same period in 2023. In Q2 and Q1 2024, however, its net profit reached 24.72% and 25.76%.

This morning (12/12), BULL was seen fluctuating with positive tendencies, arriving at IDR 123 per share. Since the beginning of this year, the company saw 19.41% increase from IDR 103 per share. (LK/ZH)