IPC Handled 6.9m TEUs Last Year, Down 9.64%

The pandemic Covid-19 outbreak since early last year has hit the performance of Indonesia’s leading port operator PT Pelindo II/IPC. IPC booked a drop in cargo volume, revenue, and net income as well in this tough year.

The IPC’s audited report says that its total container volume reached 6.92 million TEUs, down 9.64% year on year, from 7.66 million TEUs in 2019.

Its non-containerized cargo was also down by 16.5%, to 50.13 million tons, from 60.04 million tons in 2019. The ship calls were down 14.69%, from 209.12 to 178.41 million GT.

Following the volume and ship calls drop, the IPC’ revenue and net income also faced a drop. The audited report says the revenue was down 6.18%, from Rp11.1 trillion (2019) to Rp10.4 trillion in 2020. IPC suffered a deep net income for the year by 53.79%, to Rp1.15 trillion, from Rp2.5 trillion in 2019. The EBITDA, meanwhile, was down 10.37%, from Rp3.4 to Rp3.1 trillion.

Commending this performance, Ari Santoso, IPC Corporate Secretary said: “Though the port remains one of the resilient amid the pandemic Covid-19 outbreak, but the IPC has continued and will continue to grab business opportunities in the new normal.”

Though facing the toughest time due to the pandemic, IPC has been consistently doing collaboration with some global shipping lines. IPC continued to serve more and more direct calls to some key trade destination countries, including to Australia, China, Taiwan, Hongkong, South Korea, and some ASEAN countries of Singapore, Malaysia, Thailand, Filipina, and Vietnam.

Ari also underlined that amid the pandemic, IPC continued to finalize some key projects. “Amid the pandemic, we still continued to run our projects of Kijing Terminal, New Priok Container Terminal 2 (NPCT2), Cibitung Cilincing Toll Road (JTCC), and Maritime Tower. In line with health protocols of Covid-19, of course,” Ari said.

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