PT Pelita Samudera Shipping Tbk (PSSI) in 2021 allocated a capital expenditure(Capex) of US$21 million to purchase a fleet to pursue the achievement of new contracts.

"The allocation for capital expenditure in 2021 is targeted at around US$21 million for the fleet expansion strategy plan," said Pelita Samudera Shipping President Director Alex Iriawan Ibarat in his statement on Tuesday (27/4).

According to Alex, the company managed to secure contracts worth US$164.6 million in 2020 for new contracts and long-term contract extensions in the next 1-3 years. The company is optimistic that it will grow resiliently with business diversification, optimization of assets, and fleet expansion as a sustainable strategy.

Meanwhile, the company targets revenue growth in 2021  to increase by around 15%-20% from 2020.

The company's strategy is to optimize the utilization of assets in the midst of slumping export and domestic markets due to