Shipping Company PSAT Reports Revenue Growth Amid Profit Decline
PT Pancaran Samudera Transport Tbk (PSAT) recorded revenue growth throughout 2025, but the company’s net profit performance was significantly pressured amid rising operational costs and the need to maintain service continuity for customers. During the 2025 financial year, PSAT posted operating revenue of Rp1.07 trillion, up approximately 9.9% compared to the previous year’s revenue of Rp980 billion. However, this revenue growth was unable to contain the pressure on profitability. Net profit fell to Rp23 billion, from Rp242 billion in 2024.
Wendi Arifin, Finance Director of PT Pancaran Samudera Transport Tbk, stated that 2025 was a period of both growth and business transition for the company. “Throughout 2025, the company faced challenging industry dynamics, both from global and domestic economic conditions. Nevertheless, the company still managed to record revenue growth of around 9.9% compared to the previous year,” Wendi said during the PSAT Public Expose 2026 yesterday.
According to Wendi, the increase in revenue demonstrates that PSAT’s operational activities and demand for its marine transport services remained sustained amid market uncertainty. PSAT has focused on commodity transport services, particularly for the mining sector. However, the company faced pressure from rising operational costs, including fuel prices and the use of short-term chartered vessels. This strategy was pursued to maintain service continuity for customers.
Management assessed that the margin compression experienced was a consequence of necessary operational measures. The strategy is said to be aimed at maintaining service stability, preserving customer relations, and ensuring the company’s readiness to capture growth opportunities in the subsequent period.
Despite the profit pressure, PSAT continued its asset expansion. The company’s total assets increased by 12% to Rp1.69 trillion in 2025, from Rp1.50 trillion in 2024. The increase was primarily driven by the addition of fixed assets in the form of vessels, as part of efforts to strengthen the fleet and operational capacity. “This asset increase is part of the company’s long-term strategy to strengthen competitiveness and support sustainable business growth,” Wendi said.
In the same public expose, PSAT also conveyed the realisation of the use of funds from its initial public offering (IPO). The IPO funds were used, among other things, for the purchase of vessels through a subsidiary, PT Pancaran Karya Shipping, amounting to Rp175 billion. Additionally, IPO proceeds were used for the purchase of operational fuel amounting to Rp18.27 billion and the payment of public offering costs amounting to Rp6.84 billion. The realisation of these funds has been reported to the Financial Services Authority (OJK) via Letter No. 002/CORSEC-PAN/PST/I/2026 dated 12 January 2026, concerning the Report on the Realisation of the Use of IPO Proceeds of PT Pancaran Samudera Transport Tbk as of 31 December 2025.
Entering 2026, PSAT has prepared a number of strategies to strengthen growth, including commodity diversification, expansion of shipping areas, and development of cooperation with new customers. The company will also improve service quality through the implementation of customer relationship management, operational digitalisation, resource efficiency, and strengthening good corporate governance to support sustainable business growth.