The Company offers a wide range of maritime transportation and related services, including Vessel Chartering, Vessel Operations, Vessel Agency Services, and Shore Storage Rental.
The Company charters in its vessels from third parties on a range of terms, including Short-Term Time Charter; Medium-Term Time Charter; and Long-Term Time Charter basis.
The Company charters out cargo spaces in its vessels to the third parties. The vessels used to provide these services include vessels owned by the Company and chartered-in vessels. Cargo is carried according to a range of terms, including spot market contracts and Contract Of Affreightment (COA). COA is a contract for the transportation of a certain volume of cargo within a specified period of time.
Pursuant to the prevailing regulations in Indonesia, foreign vessels calling at Indonesian ports are required to appoint an Indonesian company or companies to act as their general agent. As a registered Indonesian company, the Company acts as the general agent for many foreign vessels. Foreign shipping companies whose vessels enter into Indonesian waters contract a range of agency services from the Company, including the arrangement of permits, the arrangement of port facilities, and the provision of supplies such as fuels, freshwater, spare-parts, repair services, and others. Besides contributing directly to the Company’s revenues and profits, the agency business facilitates the expansion of the Company’s network with foreign shipping companies.(more))
Shore Storage Rental
Liquid cargo must be stored in the appropriate facilities in ports before being transported by oil tankers or distributed to processing plants. The Company owns and operates shore storage facilities which it rents to the owners of liquid cargo.