Video: Rupiah Weakens; Expensive Fuel Oil, Shipping Operating Costs Soar

Jakarta, CNBC Indonesia — Maritime cargo operators are on alert as global geopolitical and economic volatility, including the rupiah’s depreciation, weighs on the sector. For shipping, currency pressures from the rupiah push up the cost of spare parts, most of which are imported, as well as insurance premiums and repayments on foreign-denominated loans. Nevertheless, amid current global turmoil, Carmelita Hartoto, Chairwoman of the Indonesian National Shipowners’ Association (INSA) Central Board, says there remains potential for the shipping business to seize. Consequently, INSA calls for government support to improve Indonesia’s shipping competitiveness, notably regarding domestic banks’ high lending rates, and hopes for lower interest rates and longer tenors similar to the infrastructure sector. INSA also calls for a VAT exemption on fuel for merchant ships, which continues to burden the industry. Maintaining purchasing power is expected to underpin the sustainability of shipping, which underpins logistics. So how will national shipping navigate global volatility? Watch the dialogue with Bunga Cinka and INSA’s General Chair Carmelita Hartoto in Focus on Infra, CNBC Indonesia (Wednesday, 20 May 2026).