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Humpuss Intermoda to buy LNG vessel in Q1 2018

JAKARTA ( – Shipping firm PT Intermoda Transportasi Tbk (IDX:HITS) will set aside US$85 million for capital expenditure in 2018. As much as US$40 million of this funds will be used to buy an LNG carrier, a company official said.

President Director of Humpuss Intermoda Theo Lekatompessy said the LNG vessel is one of the four vessels to be purchased by the company next year. The other vessels are one oil tanker at a cost of US$15 million and one dredging vessel with an estimated cost of US$10 million.

Lekatompessy said the LNG vessel is planned to be purchased in the first quarter next year. The purchase is expected to strengthen the company’s fleet and making it as one of the major players in Indonesia engaging in transporting LNG.

He said the company is also planning to involve in a project to develop floating storage regasification unit (FSRU) project, in partnership with local and foreign investors, namely Pertamina and an undisclosed foreign partner. The local firms will hold majority stakes, with composition as follow: the state-owned energy company PT Pertamina 26% and Humpuss 25%. The FSRU project is estimated to require an investment of US$280 million.

The purchase of the LNG vessel indicates Humpuss interest to focus more on the LNG transportation market. He noted that the market depends on PLN as 60% of LNG in the country is bought by the state electricity company. (*)

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