The pilotage and towage services provider reported higher nine-month revenue, while rising fuel costs reduced profit, prompting plans to improve fleet utilization and strengthen operational efficiency
PT Jasa Armada Indonesia Tbk (IPCM), a member of Indonesia’s Pelindo Group that provides vessel pilotage and towage services, reported a 5.33% increase in revenue for the nine months ended September 30, 2026, while net profit declined amid higher operating costs.
The company recorded revenue of 1.15 trillion rupiah ($X), up from 1.09 trillion rupiah in the same period a year earlier, supported by growth in vessel towage and other services.
Vessel services accounted for 1.11 trillion rupiah, or about 96.51% of total revenue. Towage services generated 1.05 trillion rupiah, an increase of 7.74% year on year, while pilotage services contributed 58.80 billion rupiah.
Revenue from transportation and other services rose 8.70% to 40.18 billion rupiah, the company said.
However, the cost of revenue increased to 941.23 billion rupiah from 824.30 billion rupiah a year earlier, reducing gross profit to 210.42 billion rupiah from 269.07 billion rupiah.
Net profit fell to 94.13 billion rupiah from 140.67 billion rupiah, primarily due to higher fuel prices, the company said.
IPCM said it was focusing on improving operational efficiency, optimizing fleet utilization and scheduling vessel maintenance to maintain service reliability and support profitability.
Third-quarter revenue growth was supported by changes to operational patterns that improved fleet utilization and responsiveness to customer needs, helping reduce vessel waiting times at ports, the company said.
It is also promoting the use of technologies including inverters and hybrid systems, solar panels, shore power connections and harbour generators to reduce fuel consumption when vessels are not operating at full capacity.
The company is seeking to strengthen cooperation within the Pelindo Group while pursuing business opportunities outside the group’s existing network.
Dwi Rahmad Toto, IPCM’s president director, said the revenue increase demonstrated the company’s ability to maintain growth despite industry pressures and economic challenges.
“Moving forward, IPCM will focus on strengthening its core business and maximizing growth potential by optimizing services and regions that are already performing well, increasing fleet utilization, maintaining disciplined cost control, and selectively expanding into new markets,” Dwi said.
He said the measures were intended to strengthen the company’s competitiveness and create sustainable value for shareholders.
IPCM reported total assets of 1.75 trillion rupiah as of September 30, up 1.98% from the end of 2025. Current assets increased 5.53% to 1.07 trillion rupiah from 1.02 trillion rupiah at the end of last year.
Net cash generated from operating activities reached 165.77 billion rupiah during the period, the company said.
IPCM said it would continue to focus on fleet productivity, operational efficiency, market expansion and cooperation within the Pelindo Group, while prioritizing safety, service reliability, corporate governance and sustainability.
The company aims to strengthen its financial resilience and support the development of Indonesia’s maritime sector, it said.
