ELPI Secures Major Contract for Genting FLNG Project

Significant Maritime Charter Agreement

PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) has successfully won a tender from PT Layar Nusantara Gas (PT LNG) to provide Marine Fleet Charter services for the Genting Floating Liquefied Natural Gas (FLNG) project. The contract, valued at approximately Rp2.39 trillion, spans an operational period of 18 years under a time charter arrangement.

Project Scope and Implementation

As part of the agreement, ELPI will develop six specialized vessels that will be chartered to PT LNG. This significant project not only demonstrates ELPI's capabilities in maritime services but also positions the company for substantial revenue growth over the contract's duration. The long-term nature of the agreement underscores the strategic importance of this partnership for both parties involved.

Strategic Implications

The Genting FLNG project represents a major opportunity for ELPI to expand its presence in the maritime energy sector. With an estimated contract value of Rp2.39 trillion, this agreement significantly enhances ELPI's order book and provides a stable revenue stream for the next 18 years. The project's success will depend on ELPI's ability to deliver the required vessels on time and maintain them throughout the charter period.