Overview

The Indonesian shipping industry has been experiencing rapid growth in recent years and, according to Ministry of Transportation (“Ministry”) data, the number of shipping companies operating in the country during the course of the 12-year period from 2005 to 2017 actually doubled from 1591 to 3296.[1] Furthermore, the number of Indonesian vessels alone increased from a mere 6000 units back in 2005 to an unprecedented 24,046 units in 2016, with total overall transportation capacity topping 38.5 million Gross Tonnage (“GT”).[2]