TRAM one of Forbes Indonesia’s top 40 performing companies in 2011
On December 8th 2011, Trada Maritime received the honor of being named one of Forbes Indonesia’s top 40 listed companies in 2011.
TRAM was placed at number 20 out of 40 companies.
Out of 420 listed companies in Indonesia, criteria was narrowed down to companies with under $1 billion in sales.
The companies included into this prestigious list were screened based on healthy financials through income, sales and earnings per share.
Companies chosen were also required to employ good corporate governance and an all round sterling performance throughout the years
PT TRADA MARITIME TBK WINS TENDER FOR LNG CARRIER
Jakarta – PT Trada Maritime Tbk (TRAM) today, Kamis (22/12) announced itself as the winner in a tender for marine transporter of Liquefied Natural Gas (LNG). The contract, which will last for 11 years, is the first in Indonesia after implementation of cabotage principle.
According to TRAM’s President Director, Teguh Arya Putra, the Company’s entry into the LNG carrier business is aligned with Trada Maritime’s strategy. “We are proud to be chosen as the winner of this tender because it is aligned with TRAM’s strategy of continuously expanding its shipping fleet.” stated Teguh.
The vessel, named LNG Aquarius with a capacity of 126.350 Cubic Meter (cbm). is planned to start operations in January 2012 to fulfill a contract with PT Nusantara Regas (a joint venture company between PT Pertamina and PT PGN). The contract is a long term time charter contract which requires LNG Aquarius to carry cargoes from Bontang to a floating regas terminal with the capacity to produce up to 500 MMSCFD of gas.
In the transportation of this LNG, TRAM has partnered with Mitsui OSK Lines (MOL), a Japanese shipping company with vast experience in the transportation of LNG. The partnership was realized through the establishment of a joint venture between the two companies. This project is the first coastal LNG transport in offshore business of MOL in Indonesia after the implementation of cabotage principle. The cooperation between TRAM and MOL was established to fulfill domestic demand for natural gas that is constantly increasing. “Trada Maritime’s entry into the LNG carrier business is aligned with its core vision to become the leading marine transporter in energy”, Teguh said.
TRAM Goes International with CAPEX of USD 120 Million
Jakarta 13 May 2011 – PT Trada Maritime Tbk; an FSO, liquid and dry bulk transportation services provider, will set aside capital expenditure amounting to US$ 120 million(Rp 1,2 trillion) in the year 2011 in line with expansionary strategies of the Company. This strategy was undertaken in order to fortify the Company’s position domestically as well as penetrate the international market.
The amount of funds stated will be utilized for the addition of new vessels and the maintenance/modification of existing vessels. TRAM will purchase 6 (six) to 7 (seven) new ships to support business expansion. According to PT Trada Maritime Tbk’s Chief Financial Officer, Adrian E. Sjamsul, among TRAM’s fleet is a Panamax sized vessel of 72.000 DWT valued at US$ 30 million to strengthen the Company’s dry bulk fleet. Another purchase was a tanker of 64,239 DWT valued at US$ 8 million which will be converted into an FSO.
The Company is optimistic it will seize a wider international market following a strong performance in Quarter I of 2011. The Company’s performance was announced at PT Trada Maritime Tbk’s (TRAM) Public Expose where the Company managed to record a revenue of Rp 143,6 billion in Quarter I of 2011 or a 51% increase from the same period in 2010 which was Rp 95 billion. Along with the increase in revenue, the Company’s net income also rose 88% from Rp 33 billion in Quarter I of 2010 to reach Rp 61 billion in Quarter I of 2011. The Company’s EBITDA has commanded a growth of 49% from Rp 59 billion in Quarter I of 2010 to reach Rp 88 billion in the same period in 2011.
Adrian E. Sjamsul, stated that the addition of new vessels will further strengthen the Company’s dry bulk fleet, particularly for mining products considering its large market potential. The Company’s strategy is to drive other business potential, among them dry bulk transportation aside from the FSO and tanker segment. We hope to achieve a minimum increase of 80% in revenue in the year 2011 and to increase net income by at least twofold compared to that in 2010.” said Adrian E. Sjamsul. The increase in TRAM’s performance, according to Adrian E. Sjamsul was due to trust from business partners as well as local and international financial partners.
In the same instance, the Annual General Meeting of Shareholders declared dividends in the amount of Rp 42,369,920,633,- or 40% of the Company’s net income for 2010 as well as the reshuffling of Board of Directors. In accordance to these changes, PT Trada Maritime Tbk’s Board of Directors are now as follows: Teguh Arya Putra (President Director), Adrian Erlangga Sjamsul (Director), Anak Agung Alit Wiradharma (Director), and Jan Patty (Director).
The newly appointed President Director of PT Trada Maritime Tbk, Teguh Arya Putra, hopes that the new management can sustain the Company’s fine performance that has proven itself for the last 12 years. ”We are optimistic TRAM will grow significantly through its three business segments, particularly after the issuance of the cabotage principle that will support the expansion of the national shipping industry” stated Teguh Arya Putra.
As for the Company’s performance in 2010, the Company has managed to record an increase of revenue as much as 21% to become Rp 405 billion from Rp 334 bilion in the year 2009, therefore recording a 6% net income margin to become Rp 105 billion from Rp 99 billion in the year 2009. The increase in the Company’s income was due to the increase of revenue contribution from the three core business lines which are FSO, liquid cargo transportation and dry bulk transportation. In accordance to the Company’s performance in 2010, the AGMS has approved a distribution of dividend as much as Rp 42,369,920,633 or 40% from the Company’s net income.
PT. Trada Maritime expands its Dry Cargo business
Singapore, 14 October 2010 – PT. Trada Maritime Tbk (TRAM) and Kumiai Senpaku have signed an Memorandum of Agreement (MOA) on the purchase of a Panamax vessel in Singapore. The signing was executed by Danny de Mita, as President Director of TRAM and Nobutaka Mukae as President Director of Kumiai Senpaku. The MOA signing aims to further expand TRAM’s development in the dry cargo business
The purchase of this vessel is to anticipate demand in transporting dry bulk cargo such as coal, grain, and iron ore. The ship will operate in Southeast Asian waters, the Pacific, and Far East and not limited to the Atlantic Ocean. “This [the purchase of Panamax] further proves our commitment in improving our international standard services and becoming a key player in the shipping industry in order to fulfill global demand” said Danny de Mita.
The ship has 72,421 DWT and was built in the prestigious Sasebo shipyard, Japan, in 1997. The ship has a Class NK which comes from the Classification Society which implements the highest standards in shipping operations.
Trada Maritime Secured US$ 50 Million Facility from IFC & BTMU
JAKARTA, 22 July 2010 — PT Trada Maritime Tbk (TRAM) signed financing facility agreement with International Finance Corporation (IFC), a member of World Bank Group, and also with The Bank of Tokyo-Mitsubishi UFJ, Ltd. – Jakarta Branch (BTMU-Jakarta Branch). The facility, amounted to US$ 35 million and US$ 15 million from IFC and BTMU-Jakarta Branch respectively, will be utilized for a conversion project of one of TRAM’s fleet, FSO Lentera Bangsa, to meet the requirements of contract from CNOOC SES Ltd as the charterer of the abovementioned vessel.
The facility from these prominent financial institutions was a strategic progress for TRAM, which has executed international best practice in its fleet operations in order to contend with greater market.
In the third quarter of 2009, TRAM secured contract from CNOOC SES Ltd to provide FSO (floating storage & offloading) Lentera Bangsa. To date, the conversion project of the vessel with the dead-weight of 127,000 tons is still in process in Cosco Shipyard, Guang Zhou, China and is still on schedule of operations, which is in January 2011.
TRAM’s President Director, Danny de Mita, expressed that TRAM’s achievement in securing contract from CNOOC confirmed that the cabotage principle has been successfully implemented in Indonesia. “TRAM’s accomplishment in partnership with CNOOC also showed that a national shipping company with Indonesian flagged vessels was proven to be competent through the implementation of cabotage principle.”, Danny said.
In relations with supports from IFC and BTMU-Jakarta Branch, Danny also said, “This is a truly valuable opportunity for TRAM’s business growth. We appreciate the trust given by both parties, and we do hope for a long-term cooperation and good relationships in many years to come.”
IFC Indonesia Country Manager, Adam Sack, stated that, "IFC’s funding to TRAM is part of our commitment to improve the reach of infrastructure in Indonesia. Improving infrastructure is vital for Indonesia to achieve its growth targets, and it's vital to reduce costs and increase opportunities for businesses. We are therefore very pleased to support TRAM’s expansion in this important sector, and we look forward to partnering with TRAM as it expands further in future."
Trada Maritime Has Published Environmental & Social Review Summary in Relation to the Widuri Project
The technical information below is provided by Trada Maritime and has been reviewed by International Finance Corporation (IFC). The review includes Trada's compliance with IFC’s Performance Standards and management capacity to provide adequate oversight of environmental, social, health and safety aspects of its business. The review relied on documents and reports made available by Trada, IFC technical consultant’s report and interviews conducted by IFC staff during meetings with senior management team of Trada and CNOOC SES Ltd. (CNOOC) project management personnel in Jakarta, Indonesia.
This is a Category B project according to IFC’s Environmental and Social Review Procedures as it may create a limited number of specific environmental and social impacts that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. The Lentera Bangsa, which is being provided by Trada as a replacement of an existing vessel in operation at the SES Concession Widuri field, will continue to comply with project specifications and environmental mitigation measures mandated by CNOOC and approved by the Indonesian government. Environmental, social, health and safety issues that require ameliorative measures are included in the Environmental and Social Action Plan (ESAP) and will be addressed by the Company as agreed in IFC’s investment documents and any associated agreements.
For further reading, please click on the link below:
http://www.ifc.org/ifcext/spiwebsite1.nsf/DocsByUNIDForPrint/945D768E35AAF3DE852576F200648C41?opendocument
TRAM Obtained USD 21,5 Million Loan from 2 Foreign Banks
JAKARTA, November 11, 2009 — PT Trada Maritime Tbk (TRAM) and through its subsidiary, PT Trada Shipping, have obtained loan facilities with the total amount of USD 21.5 million: USD 11 million from The Bank of Tokyo - Mitsubishi UFJ, Ltd., and USD 10,5 million from PT Bank Mizuho Indonesia.
TRAM will utilize the proceed of the two years tenor term loan from The Bank of Tokyo - Mitsubishi UFJ, Ltd. to strengthen its working capital. And the proceed of the five years tenor term loan from PT. Bank Mizuho Indonesia will be utilized to purchase a tanker vessel–aframax type- with the capacity of 95,000 DWT. The acquisition of this vessel was based on the fact that on 2009 TRAM has been awarded by Pertamina a contract of transporting crude oil product. The vessel is planned to be delivered for full operation by Pertamina on January 1, 2010
By having acquired this vessel, to date the total vessels owned by TRAM shall be of 35 vessels in various type of vessels.
“We highly appreciate the trust given to us by those banks by extending us such loan facilities. We do hope this good relation, between the banking industry and the shipping industry, shall be improved in the future, as this, in turn, would significantly impact to the shipping industry in order to develop its business ahead”, said Adrian Sjamsul – TRAM’s Chief Financial Officer.
In 2009, TRAM has gained 2 major contracts that are for providing liquid cargo transportation vessel worth of Rp 380 billion from Pertamina, and for supplying of Floating Storage Offloading vessel worth of Rp 1.14 trillion from CNOOC.
Until the end of 2009, TRAM is projecting to utilize its capital expenditure post mainly to purchase vessels up to USD 30 million.
TRAM’s performance until the third quarter of 2009 has shown significant improvement. TRAM’s revenue is increased up to 28% compared to the same period last year, become Rp 256.5 billion from Rp 200.6 billion. Its net profit rise 120.15%, from Rp 36.5 billion in the third quarter of 2008 to become Rp 80.4 billion in this year for the same period.
"Trada Bagi Negeri" Scholarship Program with Sampoerna Foundation
Maintaining its commitment to consistently support children’s education, Trada Foundation together with Sampoerna Foundation established scholarship program called Trada Bagi Negeri. This program is commenced in July 2009 and to be applied for the whole academic year of 2009/2010 and dedicated to 40 senior high school students all around Indonesia. Regarding this matter, Sampoerna Foundation helps to organize and execute the program by building a strategic partnership with Trada Foundation, which includes a professional and accountable management and full monitoring on the program’s implementation.
Below are the pictures from the MoU Signing between Trada Foundation and Sampoerna Foundation.
Trada Maritime Won FSO Tender Worth Rp 1.14 Trillion
JAKARTA, August 13, 2009—PT Trada Maritime Tbk (TRAM) has won the tender to provide offshore transportation services (FSO) for foreign oil & gas company worth almost Rp 1.14 triilion or US$ 114.8 million.
TRAM’s President Director Danny de Mita stated that “We have already signed the LoI for 7 years Contract. We are also pleased to say that the Charterer has entrusted TRAM as national shipping company to provide Floating Storage Offloader (FSO) transport for their project. “The trust that Charterer has given to us shows that as a national shipping company, TRAM is capable of providing transportation services on par with foreign shipping companies”, added Danny. He thanks to Charterer for giving Indonesian companies a chance to show their credentials on such an important endeavor.
The company has more than eight years of experience in offshore services and has managed as well as operated more than 33 vessels, with FSO transport being one of the core business of the company. “Consistently being the number one FSO provider in Indonesia has shown that TRAM has the experience and capability required to handle this project” explained Danny de Mita.
In line with the Indonesian government’s goal to implement Presidential Decree No. 5/2005, which states that all domestic operating vessels to bear Indonesian flags by the year 2010, the national shipping industry will have to fill the considerable gap left by the departure of foreign shipping companies. “It is absolutely a big challenge what the government has entrusted us with”, Danny said, “But it is also a great opportunity that TRAM and the industry has to grasp with both hands”.
TRAM’S Net Profit Increased 60%
JAKARTA, July 29, 2009 – PT Trada Maritime Tbk (TRAM) has recorded net profit to Rp 55,88 billion for half year of 2009, or rose 60% compared to the same period of 2008 which was Rp 34,92 billion. Income from operations was up to Rp 178,71 billion, increased 37% in comparison to the same period of the previous year.
The improvement of the financial performance (unaudited) was mainly contributed by the Company’s new line of business in Dry Bulk transportation that has been operating since June 2008. This particular segment of service threw in Rp 48,5 billion of income, or equal to 27% from the Company’s total revenue. The remains was contributed from FSO (68%) and Liquid Cargo services (5%). The Company added more fleet with the purchase of one tanker for clean petroleum product (CPP). Thus, this valuable investment was also put in on the Company’s total income.
Another crucial point that has raised the half year financial performance significantly is the efficiency on operational cost.
This improved performance also gave result on EBITDA increase which was up to Rp 81,6 billion, rose 90% compared to the first half of 2008.
“In this year of 2009, TRAM will stay focus on our core business: providing FSO, Liquid Cargo, and Dry Bulk services. We are also consistently supporting the energy sector regarding its demand on marine transportation service. Our next plan is to add more fleet –tanker and dry bulk- to expand the business.” as stated by Adrian E. Sjamsul (Chief Financial Officer).
Trada Employees Blood Donation
On May 2009, Trada Group celebrated its 10th anniversary. The company held some events on the subject of this moment; one of them was the social activity involving most of its employees: blood donation. This particular event took place at the head office in
TRAM PAYS 40% DIVIDEND FROM 2008 PROFIT
JAKARTA / April 24, 2009 – PT Trada Maritime Tbk (TRAM) allocated 40% of its net profit in the year 2008 for dividend to its shareholders. Today, the Company’s Annual General Meeting of Shareholders (AGM) has approved this dividend allocation as well as the Board of Directors & the Board of Commissioners’ responsibility report, which included the Company’s financial and operational performances during 2008.
TRAM’s Achievement
In 2008, TRAM has recorded 3 (three) significant achievements: (1) acquiring of 22 additional vessels, (ii) entered into dry bulk business, and (iii) listed its shares in the Indonesian Stock Exchange (IDX).
TRAM’s Financial Performance
In 2008, the Company recorded Revenue of Rp 317 billion, an increase of 44% from the previous year which was Rp 220 billion. Net Profit also increased by 18% to become Rp 43.7 billion compared to Rp 37.1 billion in 2007. A significant increase of 176% was recorded in Total Asset whereby TRAM reported a Total Asset of Rp. 1.4 trillion compared to a mere Rp. 498.4 billion previously.
The Company’s performance could have been better should the economy remain strong in 2008. However, as the global economy came to a challenge in the second semester of 2008, whereby trading has shrunk, exchange rate increased from the previously assumed Rp 9.300 to become Rp 11.000 and interest rate has gone up to 10% from the assumption of 8%, demand for sea transportation services dropped quite significantly. These circumstances have forced TRAM to postpone its investment plan to purchase dry bulk carriers, which was intended to be executed at the end of 2008.
TRAM is adding 6 Tankers / Bulkers in 2009
In order to further penetrate the market, in 2009 TRAM plans to strengthen its fleet by purchasing 6 tankers/bulkers with an estimated total capex of Rp 400.000.000.000,- (four hundred billion rupiah). With this investment, TRAM sets a target to increase the EBITDA and net profit by twice as much as of its achievement in 2008. In addition, the Company will maintain its revenue growth beyond 40%.
PT Trada Maritime Tbk Listed On The Indonesia Stock Exchange
JAKARTA, September 10, 2008 – PT Trada Maritime Tbk (TM), which offers complete offshore services in the energy and mineral resources sector, today lists its shares on the Indonesian Stock Exchange (ISX).
TM has released around 8,7 billion shares consisting of 4,7 billion Founding Shares and 4 billion common shares through its public offering, or around 45,81% of the Company’s total shares.
The company has acquired Rp 500 billion of funds with an offering price of Rp 125 per share.
The company also offer Series I Warrants as an incentive for new shareholders that are listed in the Public Offering Allocation List compiled by the Underwriters. Shareholders of four (4) new shares of the company will receive one (1) series I warrant, which entitles them to purchase one (1) new shares of the company to be released in portepel. The warrants are valid for three months during the 10th of March, 2009 until the 9th of September, 2011. Listing of the series I warrants in the Indonesian Stock Exchange (ISX) is scheduled to be held on the 10th of September, 2008.
Trada Maritime President Director Darmansyah Tanamas stated that, “we are pleased that the IPO process has come to an conclusion with the listing of TM shares on the ISX”. He added that “we are also pleased to announce that TM shares has been oversubscribed 22 times, which shows that shares of maritime transportation companies such as ours are still desired by investors”.
TM Director Danny de Mita explained that around 93% of the funds resulting from the IPO after emission costs is earmarked for investment in new vessels, predominantly for dry bulk fleet, through direct investment or through its subsidiaries, while 7% will be used for the Company’s working capital.
Funds generated from the IPO are expected to strengthen the Company’s capital structure and secure the implementation of its targeted business expansion.”
“The company projects revenue of around Rp 500 billion for the year 2008, with contributions from our new ships reaching around 43% of total revenue”, said Danny, “we project our revenue for the year 2009 to increase by 120,45% in comparison to the previous year”.
The projected increase in revenue is due to anticipation of income from new contracts that are currently being finalized, one of which is a contract to transport Clean Petroleum Products (CPP). “We also have other contracts provide FSO services and coal transportation that are currently being finalized”, concluded Danny.
Trada Maritime IPO as Expansion Strategy to Face Competition in the National Shipping Industry
JAKARTA, July 23, 2008 – PT Trada Maritime Tbk (TM), which offers complete offshore services in the energy and mineral resources sector, held a Public Exposé and Due Diligence Meeting for the Company’s plan to release new shares to the public through an initial public offering.
In the IPO, TM targets to secure approximately Rp 480-520 billion in funds by offering a maximum of 45.81% of the Company’s total shares, equal to a maximum of four billion common shares, and a maximum of one billion series I warrants. Approximately 93% of the funds resulting from the IPO after emission costs is earmarked for investment in new vessels, predominantly for dry bulk fleet, through TM direct investment or through its subsidiaries, while 7% will be used for the Company’s working capital.
TM is the leading floating storage offloading (FSO) provider in Indonesia. In 2008, TM will expand its business activities in dry bulk and liquid cargo transportation services. For expansion in dry bulk services, TM has bought twenty (20) vessels consisting of tugboats and barges. In liquid cargo services, TM has added one (1) tanker to complete its liquid cargo fleet. This acquisition was funded by internal and external sources.
“We are optimistic that the implementation of the Cabotage Principle, as stated in Law No. 17/2008, which obliges domestic shipping transportation to be serviced by Indonesian fleets, TM and the national shipping industry will be afforded new opportunities to develop our business” stated Trada Maritime President Director Darmansyah Tanamas.
He added “To further expand our business, TM requires fresh funding. An IPO is one of the options employed by the Company to strengthen its capital structure,”
Funds generated from the IPO are expected to strengthen the Company’s capital structure and secure the implementation of its targeted business expansion. The Company is estimated to book total income of Rp 484 billion in 2008, of which 43% is generated from revenue from new vessels. The 2009 Revenue Forecast projects an increase in revenue of 120.45% compared to the current year.
TM currently holds more than a 25% share of the FSO (floating storage vessel) service provider market for crude oil in Indonesia with cargo capacity up to 2.97 million barrel with five FSO vessels. This positions TM as the leading FSO service provider and owner among Indonesian national shipping companies.
