Public listed company doing business in pilotage and towage service PT Jasa Armada Indonesia – IPC Marine (IPCM) – has announced a strong performance for the third quarter of 2024, achieving a 10.31% increase in revenue to IDR 946.62 billion, up from IDR 858.11 billion in the same period last year. The company also recorded a slight profit increase, rising from IDR 119.77 billion to IDR 121.10 billion year-on-year.
The majority of IPCM’s revenue came from ship services, contributing IDR 873.51 billion, which accounts for 92.27% of total revenue—a significant 15.50% increase compared to the previous year. Additional revenue sources included transportation and other services, generating IDR 73.11 billion.
Specifically, revenue from ship towing services was segmented as follows: public ports (IDR 392.42 billion); special terminals (Tersus) (IDR 317.63 billion); and Terminals for Self-Interest (TUKS) (IDR 163.45 billion).
The company also saw robust growth in General and Special Ports, with revenue rising by 20.37% year-on-year and 39.64% compared to the same period in 2023. This growth reflects IPCM’s ability to expand business volumes across multiple segments.
IPCM’s total assets grew by 1.07%, reaching IDR 1.54 trillion by the end of the third quarter of 2024, compared to IDR 1.52 trillion in 2023.
President Director Shanti Puruhita expressed optimism about maintaining strong performance despite various challenges, emphasizing the company’s commitment to optimizing services, enhancing fleet availability, and improving ship maintenance.
“Efforts to implement our strategy include renewing production equipment, emphasizing safety in pilotage service, and strengthening partnerships,” said Shanti.
In April 2024, IPCM was officially designated by the Indonesian Ministry of Transportation to conduct pilotage and towing services in the waters of Obimayor Island, North Maluku Province, marking a significant step in expanding their operational reach.
Commitment to Sustainability
As part of its commitment to sustainability, IPCM operates 94 ships while prioritizing environmentally friendly practices, such as utilizing shore connections and solar panels on vessels. Shanti highlighted the company’s dedication to providing quality services that positively impact the ecosystem.
In addition to its financial achievements, IPCM has been recognized for its commitment to governance and sustainability, recently winning the 2023 Annual Report Award (ARA) as the second winner in the category of Non-Financial Public Companies. This award underscores IPCM’s dedication to creating long-term value while supporting a sustainable ecosystem.
The ARA event was organized by multiple agencies, including the Financial Services Authority (OJK), the Coordinating Ministry for Economic Affairs, and the Ministry of State-Owned Enterprises, among other With a solid revenue increase and a focus on sustainability and strategic partnerships, IPCM is well-positioned for continued growth and success in the maritime services sector. The company’s proactive approach to business operations and commitment to environmental stewardship are paving the way for a resilient future in Indonesia’s shipping industry.
