JAKARTA (Yosefardi) – Shipping company PT Samudera Indonesia Tbk (SMDR) cancels to buy 2 vessels, earlier planned to make the purchase in third quarter of this year, due to the weakening of Rupiah against the US Dollar, Kontan.co.id reported.
Bani Mulia Maulana, Managing Director of Samudera Indonesia, said the company earns on rupiah as its ships/vessels operate on domestic routes.
The company has allocated US$50 million for funding purchase of vessels, but the company had only purchased 2 vessels so far, from 10 vessels targeted to buy this year.
SMDR reported its revenues declined to US$274.70 million in first half of this year, from US$ 311.50 million in the same period of last year. It recorded loss of US$2.62 million, compared to profit US$6.61 million in first half of 2012.