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Disclaimer This material is strictly confidential and has been prepared by PT Bintang Samudera Mandiri Lines Tbk. (“BSML” ) in relation to its proposed issuance of new shares (“rights issue”). It may not be reproduced and redistributed, in whole or in part, to any other person without prior consent of the Company. Any reference to particular proposed terms of the rights issue is intended as a summary and not a complete description. Terms or characteristics may change before closing and the rights issue may not proceed. This document is not intended to provide and should not be relied upon for tax, legal or accounting advice, investment recommendations or a credit or other evaluation of an investment in the Company. Prospective investors should consult their tax, legal, accounting, or other advisers. Prospective investors should rely only on the final offering memorandum which will contain material information relating to the Company not in this document. An investment in the Company will involve particular risks —prospective investors should read and understand the explanations of relevant risks in the offering memorandum before making any decisions. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, or correctness of the information, or opinions contained herein. None of the Company, the selling shareholder, the selling agents or their respective advisors, or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The third party information and statistical data in this presentation have been obtained from sources the Company believes to be reliable but there can be no assurance as to the accuracy or completeness of the included information. This presentation may not contain all material information concerning the Company and the information set forth in this material is subject to change without notice. None of the Company, the selling shareholder, or the selling agents is under any obligation to update or keep current the information contained herein. Certain statements in this document may constitute "forward-looking statements", including statements regarding the Company's expectations and projections for future operating performance and business prospect. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Such forward-looking statements speak only as of the date on which they are made. Accordingly, the Company, the selling shareholder, and the selling agents expressly disclaim any obligation to update or revise any forward-looking statement contained herein to reflect any change in the Company's expectations with regard to new information, future events, or other circumstances. The Company does not make any representation, warranty, or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario. Accordingly, prospective investors should not place undue reliance on any forward-looking statements. This document is for information and convenient reference and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities of the Company. Any offer of securities will be made in or accompanied by a copy of the final offering memorandum to be issued in respect of the rights issue. Any purchase of securities should be made solely on the basis of the information contained in the final offering memorandum. This presentation and the information contained herein are being furnished to you solely for your information and may not be reproduced or redistributed to any other person, in whole or in part. In particular, neither the information contained in this presentation nor any copy hereof maybe, directly or indirectly, taken or transmitted into or distributed in any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of the applicable securities laws. No money, securities, or other consideration is being solicited, and, if sent in response to this presentation or the information contained herein, will not be accepted. By reviewing this presentation material, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
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MARKET OUTLOOK
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Market Outlook Main Cargo (Coal)
Coal consumption projections for several
countries until 2026. Projections show Indonesia
as the main consumer in ASEAN by a large
margin, followed by Vietnam and Thailand.
Meanwhile, at the world level, China, India and
Indonesia are the largest coal producers in the
world, followed by America, Australia and Russia.
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Market Outlook Main Cargo (Nickel)
The four Indonesian
companies plan to
expand total nickel
output to 1.05mt by
2028, an increase of
197% compared to
production in 2023.
Assuming that nickel
prices remain at
current levels, the
total revenue base of
the four Indonesian
nickel companies
could rise from
US$6.8bn to over
US$20bn.
The four Indonesian nickel companies are expanding with 80% additional capacity, around 470,000 tonnes, to be completed by 2026.
However, if there is continued reliance on fossil-fueled power generation, GHG emissions will have a significant environmental cost.
IEEFA estimates that of the total 530,000 tonnes new nickel capacity, 51% is high-emission ferronickel (around 60 tCO2/tNi) mainly
using coal thermal power. Meanwhile, 49% is lower-emission MHP (13 tonnes GHG emissions per tonne of nickel) using the chemical-
based HPAL process.
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Market Outlook Main Cargo (Nickel)
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Market Outlook Tug and Barge
Barge Transportation market size 2024 and Growth Rate
The barge transportation market size has grown strongly in
recent years. It will grow from $131.2 billion in 2023 to
318.48 billion in 2024 at a CAGR of 5.6%/ The growth in the
historic period can be attributed to infrastructure
development, bulk cargo demand, environmental benefits,
reliability and capacity, supply chain efficiency.
Barge Transportation Marget Growth Forecast
The barge transportation market size is expected to see steady growth in the next few years. It will grow to $166.42 billion in 2028 at a
compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to sustainability initiatives, global trade
expansion, intermodal integration, resilience to disruptions, and demand for bulk commodities. Major trends in the forecast period include
market diversification, focus on safety measures, inland waterway development, containerized cargo, and efficiency improvement.
Source : https://www.thebusinessresearchcompany.com/report/barge-transportation-global-market-report
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Market Outlook : Seaborn Trade Growth
Mixed performance in international
seaborne trade, 2023
In 2023, disruptions to shipping
networks caused average hauls
(voyages) and distances to expand
across most maritime cargo types,
with trade in LPG, coal and oil
products witnessing the highest ton-
mile growth rates (10.7, 7.4 and 7.0 per
cent, respectively). In 2023, global ton-
mile trade outpaced volume growth for
most cargo types, except forest
products. The gap between both
growth rates was particularly marked
in the case of oil products (tons, 1.5;
ton-miles, 7), LPG trade (tons 5.3; ton-
miles, 10.7) and crude oil shipments
(tons, 2.4;
ton-miles, 5.8) (Clarksons Research
2024a)
Source : United Nations 2024 Reiview of Maritime Transport 5
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ABOUT COMPANY
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Operated Vessels
7 Sets
Load
Year GT Speed Dimension
Capacity
Owned vessels 2011 & 260
10 knot 300 ft 7 ton/m3
2012 Tons
6 Sets
Load
Year GT Speed Dimension
Capacity
Chartered vessels 2011 & 260
10 knot 300 ft 7 ton/m3
2012 Tons
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Sea Freight Route
`
Coal Power Plant Coal Route (Long Towing & Transhipment)
Nickel Nickel Smelter Nickel Route (Short Trip)
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Our Customers
Coal
PT Putra Maga Nanditama
PT Pilar Putra Mahakam
PT Kaltim Global
PT Inti Bara Perdana
PT Cereno Energi Selaras
PT Selamat Jaya Energi
PT Cakrawala Dinamika Energi
A Group of PLN (Persero)
PT Trans Logistik Perkasa
PT Asian Bulk Logistic
PT Armada Bahari Nusantara
PT Baruna Pasifik Raya
Nickel
PT Pelayaran Merah Putih PT Bintang Lautan Sejahtera
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Business Strategy
Focus on mining
commodities and Diversification of
medium-short range services and products
services
Supply Chain
Increase owned and
chartered vessels
Efficiency
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Shareholders Structure
Shareholders
Shares Percentage
PT Goldfive Investment Capital 841,370,665 45.5%
Nengah Rama Gautama 259,000,000 14.0%
Pramayari Hardian Doktrianto 74,020,000 4.0%
Ariyanti Pelita Sari 74,020,000 4.0%
David Desanan Anan Winowod 74,020,000 4.0%
Public 527,749,335 28.5%
1,850,225,000 100.0%
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Financial Performance
Financial Position Profitability
(in IDR Bn) (in IDR Bn)
Total
Sales 347
Assets 317
249 270 255 253 258
Debt EBITDA
233
Gross
Equity 191
Profit
132 124
113 118 127 Net 48
46
Profit 61 36 35
26 41 46
109 97 35 33
95 100 82 17 4 16 17 12 7
2021 2022 2023 Sep 2023 Sep 2024 2021
2021 2022
2022 2023
2023 Sep 2023
Sep-23 Sep 2024
Sep-24
Current 2021 2022 2023 Sep-23 Sep-24 EBITDA 42.2% 13.4% 15.1% 15.4% 18.3%
1.5 1.0 1.1 1.1 1.1 (%)
Ratio
Cash GPM 27.7% 11.7% 14.5% 15.1% 17.3%
1.0 0.2 0.1 0.1 0.4 (%)
Ratio
NPM 7.2% 4.6% 5.4% 5.2% 3.6%
Leverage 1.34 1.37 1.02 1.12 0.89 (%)
ROA 1.8% 5.9% 6.7% 4.8% 2.7%
ROE 4.6% 14.8% 13.8% 10.4% 5.4%
ROIC 1.9% 7.2% 7.7% 5.6% 3.3%
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BUSINESS DEVELOPMENT
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Water Way Project
2025
2024
Penambahan Volume
Armada Sewa dan
layanan angkutan
langsung dari mulut
Pengoperasian Layanan
tambang. Target
Transhipment Batubara
layanan 2 Jt ton/tahun
total realisasi layanan
mencapai 1,17Jt Ton
2023 (Q3-24)
BSML menandatangani
Nota Kesepahaman
dengan PT. Pelindo
(Persero) untuk
bersinergi Dalam
optimalisasi layanan
Pelabuhan Pelindo
regional 2
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Q&A
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THANK YOU
PT BINTANG SAMUDERA MANDIRI LINES Tbk
Mega Plaza Lantai 7, Lot 7A
Jl. H.R. Rasuna Said Kav C-30
Setiabudi, Jakarta Selatan 12960, DKI
corporate.secretary@bsmlines.com
021-2232-3392
Names mentioned 19 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Putra Maga Nanditama
p.12
unresolved
org
PT Pilar Putra Mahakam
p.12
unresolved
org
PT Kaltim Global
p.12
unresolved
org
PT Cereno Energi Selaras
p.12
unresolved
org
PT Selamat Jaya Energi
p.12
unresolved
org
PT Cakrawala Dinamika Energi A Group
p.12
unresolved
org
PT Trans Logistik Perkasa
p.12
unresolved
org
PT Asian Bulk Logistic
p.12
unresolved
org
PT Armada Bahari Nusantara
p.12
unresolved
org
PT Baruna Pasifik Raya Nickel
p.12
unresolved
org
PT Pelayaran Merah Putih
p.12
unresolved
org
PT Bintang Lautan Sejahtera
p.12
unresolved
org
PT Goldfive Investment Capital
p.14
unresolved
org
PT. Pelindo (Persero)
p.17
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