In 2016, not many companies went public, mostly because of the tax amnesty issue. In 2017, these issues were sorted out, which sparked a greater appetite for IPOs. Most of them are successful and seeing double, triple, or quadruple returns; however, we are pleased that our IPO has surpassed them all. One of the reasons for this success might be that investors were waiting for it. Another reason is our involvement in the oil and gas industry. Even though the market is down, we believe it will actually go back up. Our involvement in oil and gas is as a logistics services provider; our services are provided in an integrated manner, which helps us.
President Director, PT Pelayaran Tamarin Samudra
Capt. A. Hari
President Director, MBSS
From a strategic perspective, there were two objectives when I joined: the first was to closely scrutinize and stabilize our core business, i.e. provide a one-stop integrated logistics shop for the coal mining industry. The second was to look for diversification opportunities in the oil and gas sectors as well as the dry bulk ocean going-fleet. Our recent results had been fairly dismal, with losses around USD30 million in 2016 and USD12 million in 2015 due to the severe downturn in the coal industry, which forced everyone to squeeze prices. That being said, from a diversification standpoint, the opportunities are plenty, though they may take years to materialize. The government faces enormous challenges in addressing infrastructure issues due to the huge geographical spread of the islands, but it is great to see the maritime vision as espoused by President Widodo. To become a top-quartile shipping company in Indonesia within the next five years, we need to hold ourselves to extremely high standards. Our globally experienced staff will be our key differentiator in achieving this.
Regional Director Indonesia and Malaysia, Damen Shipyards
Damen is still a family-owned company. Worldwide, we have around 11,000 employees and an annual turnover of USD2.46 billion. Within the Asia Pacific region, Indonesia is a large market for Damen, with the Indonesian Ministry of Defense (MOD) our biggest customer, having procured six Frigates/Corvettes from us over the last 10 years. Other ministries within Indonesia are also important to us. Over a number of years, we have delivered 12 navigational aid ships to Indonesia's Ministry of Transport. These are vessels used to keep the sealanes navigable, for example, by placing, relocating, and maintaining buoys. We have also supplied a number of dredgers that are used by Indonesia's Ministry of Public Works to maintain irrigation dams that build up silt over time.
Chairperson , Indonesian National Shipowners' Association (INSA)
INSA is an association of shipping companies formed in 1967 and recognized by the government as the only organization of commercial shipping companies by various binding decrees since that year. Back in 1953, there were eight Indonesian commercial shipping companies committed to establishing an organization, Unie Perusahaan Pelayaran Indonesia (UPPI). Over time and one by one, INSA's membership has increased. In 1989, we had 309 members, and a decade later in 1999, membership had more than doubled to 747 members. In 2009, INSA's members totaled 1,064, and in September 2010, we reached 1,200 members. At the beginning of 2017, our members include 1,490 shipping companies, consisting of firms of various sizes. The government's plan to connect the islands, develop the entire country, and establish shipping systems to promote trade and boost development is absolutely necessary. Once the more remote areas become developed and the economy grows, cargo throughput will increase, furthering connectivity and commercial shipping. We at INSA fully support the plan and are committed as the government's partner.