PT Jasa Armada Indonesia Tbk (IPCM), pilotage and towing services provider under Pelindo Group, reported a 2.2% increase in first-half (H1) revenue as stronger towing and port services offset higher operating costs stemming from rising global energy prices.
The company posted operating revenue of IDR 729.68 billion for the six months ended June 30, up from IDR 714.00 billion a year earlier, according to its financial statement.
Ship services remained IPCM’s largest source of revenue, contributing IDR 704.27 billion, or about 96.5% of total revenue. Revenue from towing services, the company’s core business, rose 3.9% year-on-year to IDR 664.42 billion.
Growth was also supported by higher revenue from public port services, which increased 6.5% to IDR 326.53 billion, while revenue from self-use terminals (TUKS) climbed 11.4% to IDR 139.90 billion. Revenue from transportation and other services rose 7.9% to 25.42 billion rupiah.
President Director Shanti Puruhita said the company had maintained growth despite challenging conditions for the global maritime industry, including higher fuel prices that increased shipping operating costs.
“The increase in global energy prices has put pressure on the shipping industry’s operating costs. However, IPCM has maintained revenue growth by improving operational effectiveness, optimizing fleet utilization, and strengthening synergies within the Pelindo Group,” Shanti said in a statement.
The company said revenue from Pelindo-affiliated customers accounted for 63.9% of total revenue during the first half, compared with 60.5% in the same period last year, reflecting stronger business generated within the state-owned port operator’s ecosystem.
IPCM also said it expects additional growth opportunities from Indonesia’s expanding port network, particularly at Patimban Port, where regular calls by larger international container vessels are expected to increase demand for pilotage and towing services.
The company said Patimban is expected to handle regular foreign vessel calls, including Handymax, Supramax and Panamax vessels, at a frequency of three to four ships per month, potentially expanding demand for its marine services.
IPCM’s balance sheet remained solid at the end of June, with total assets rising 2.3% from the end of 2025 to IDR 1.75 trillion. Current assets increased 4.8% to IDR 1.06 trillion.
Separately, shareholders approved a final dividend of IDR 125.51 billion, or IDR 23.75 per share, from the company’s 2025 earnings at the annual general meeting in June. The dividend represented 63.9% of last year’s net profit of IDR 196.44 billion and was paid on July 24.
The company also said it received the “Indonesia Best CSR in Pilotage & Towage Sector 2026” award in May, recognizing its corporate social responsibility initiatives.