Pelita Samudera Buys Handysize Bulker

Maritime Activity Reports, Inc.

September 18, 2019

Image: Pelita Samudera Shipping

Image: Pelita Samudera Shipping

Indonesian shipping and logistics company Pelita Samudera Shipping (PSS) has bought one bulk carrier from Singapore-based Convivial Navigation Co. Pte.

Purchase price of the handysize class MV is USD7.53 million.  PSS is settling 20% of the amount in cash and the remaining 80% in PSS shares. VesselsValue places a market value on the ship of $7.62m.

The Indonesian company said that the purchase has expanded it Motor Vessel (MV) fleet strength to six. The MV fleet capacity of 28k DWT has been projected with some potential customers, one of which is for transportation of coal and clinker (the main ingredient in cement production).

PSS also plans to purchase 2 new sets of Tug and Barge in the second semester of 2019 in addition to MV fleet. MV’s transport capacity has increased nearly 8 times by 234k DWT from 31k DWT in early 2018.

Total asset growth is projected to increase by around 32% with the addition of new fleet in 2019.

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