Amid the global and national economic challenges this year and predictably to continue next year, Terminal Teluk Lamong (TTL) still shew a positive growth, both in throughput and revenue and net profit this year (2023). This motivates this terminal to eye 4% throughput growth in 2024.
Challenges had impacted lower growth of economy and logistics during 2023, compared to 2022. According to data, the national economy growth until Q3 2023 reached 4.94%, lower than 5.30% in 2022. The logistics sector, meanwhile, grew 14.74%, lower than 19.87% in 2022.
Export import also shew slow trend until Q3. According to Central Bureau of Statistic BPS, until Q3 export import were contracted by 4.26% and 6.18%, respectively.
“We all realize with these challenges, but we still enjoy positive throughput performance, both of container and breakbulk this year,” Terminal Teluk Lamong President Director David P Sirait told Media Tour for this terminal 10th Anniversary on November 28, 2023.
Until November, TTL’s throughput has reached 775,845 TEUs, up 4.4% compared to 743,162 TEUs reached in the same period in 2022. It also exceeded the target until November which was set up at 766,294 TEUs.
In total, the realization until November has reached 92.06% of the total 2023 target, which was set up at 842,803 TEUs. TTL predicts the 2023 throughput will reach 846,376 TEUs, increasing 3.56% YoY, from 817,215 TEUs in 2022.
David notes that efforts to improve and provide the best service to customers, especially in terms of accelerating service, has supported this terminal to be in this position. “Usually what customers want is the best and fastest service. For example, berthing on arrival (BOA) and dwelling time do not exceed 3 days or berthing time is less than 24 hours or an average of 17 hours,” said David.
TTL also recorded a growth in break bulk. Until November, TTL’s break bulk throughput reached 3.27 million tons, increasing 4.21% YoY, from 3.14 million tons in the same period last year. It also exceeded its yearly target. TTL’s break bulk throughput is predictably to reach 3,450,106 tons this year, higher than the target of 3,187,786. This will increase 2.86%, from 3,354,006 in 2022.
David added, “Our good achievement is also supported by the addition of 3 new international services of Meratus’ Papua New Guinea service, Vasi Shipping’s IMS, and ICN service by Hyundai. In addition, there were four ad-hoc calls.”
“And for domestic, we also have Meratus’ call to Kupang and some new services of SPILL to Sampit, and additional 3M shipping calls following our solution to natural problem of big wave.”
In line with its throughput growth, TTL also enjoyed revenue and net profit growth during the year. TTL booked revenue of Rp 554.65 billion, or 4.04% over target and net profit of Rp 91.24 billion or 0.81% over target.
Ways to Reach 4% Target
TTL expects to handle as many as 879,978 TEUs containerized cargo in 2024, a 4% increase YoY. David is so optimistic with the target in view of existing trends of new services and the programs to improve service this terminal has and will do.
In realizing the target, TTL will finalize its two years (2023-2024) package programs of optimization of hub and spoke (eastern region domestic); exploration of transshipment port development (domestic to international or vice versa); port development through strategic cooperation (business refining such as transfer of Nilam Terminal); container business development through commodity containerization (collaboration with sister company MTI or directly with the cargo owner); and operation and development of ministries/agencies’ ports.
David explained that in 2024, TTL will do containerization of SBM cargoes owned by PT Charoen. This will be done through a single port model, meaning that all import cargoes of PT Charoen to Surabaya will be containerized in TTL and then will be delivered to Makassar. PT Charoen imports more than 100,000 tons SBM per annum.
TTL will also explore additional new services through optimizing service and customer engagement, as well as optimizing cooperation in Freeport cargo services from JIIPE Gresik to TTL transhipment using barges.
“Apart from that, there is also development of the commodity containerization business through collaboration with PT MTI or directly with the cargo owner, as well as the management and development of ports owned by ministries/agencies,” he said. TTL will also collaborate with the Pelindo group throughout Indonesia in optimizing the asset and facilities. “For example, we plan to relocate two RTGCs (Rubber Tyred Gantry Crane) from Tanjung Priok to TTL next year (2024). This will help to speed up loading and unloading at the Teluk Lamong Terminal,” added David