ELPI Secures Rp395 Billion Credit Facility from Bank Mandiri for 10-Vessel Purchase

Jakarta — PT Pelayaran Nasional Eklya Purnamasari Tbk. (ELPI) has secured investment credit totalling Rp395.2 billion from PT Bank Mandiri (Persero) Tbk. (BMRI). According to information disclosed by the company, the credit facility was approved on 24 February 2026.

ELPI Corporate Secretary Wawan Heri Purnomo detailed that the credit facility comprises two tranches: investment credit IX of Rp280 billion and investment credit X of Rp115.2 billion.

Investment credit IX will be utilised for the procurement of 6 vessels, including Offshore Support Vessel/Offshore Supply Barge (OSV/OSB), Harbour Tug, Crew Boat, and Pilot Boat. These vessels are specifically allocated for the contract with PT Layar Nusantara Gas. Investment credit X will fund the procurement of 4 additional new vessels classified as Offshore Support Vessel (OSV) and/or Crew Boat.

“All vessels financed under these facilities will serve as collateral and be secured with mortgages in accordance with the bank’s requirements,” Purnomo stated in the company disclosure released on Wednesday, 25 February 2026.

Investment credit IX is structured as a Committed, Non-Revolving Advised facility with a 96-month tenure. Investment credit X is an Uncommitted, Non-Revolving Advised facility with an 81-month uncommitted period, but may convert to committed status upon satisfaction of specified conditions.

Purnomo noted that investment credit IX has already secured a long-term contract spanning 18 years for Floating Liquid Natural Gas (FLNG) operations in Bintuni Bay, West Papua. He emphasised that the credit facility is expected to enhance the shipping company’s revenue, strengthen its going concern status, and solidify its position in the offshore support vessel sector.

“The certainty and increase in revenue from this facility will provide assurance of the company’s operational continuity and strengthen our position in the Offshore Support Vessel business,” he added.