On 13 December 2025, PT Bintang Samudera Mandiri Lines Tbk (BSML) presented its annual public expose materials.
In Q3 2025, BSML’s revenue stood at IDR 60.3 billion. This figure was significantly lower than revenue in the previous period, which amounted to IDR 191.4 billion. The decline in revenue has persisted over the past several years. In FY 2023, BSML recorded revenue of IDR 317 billion, while in FY 2024 revenue declined to IDR 244 billion.
Management reported that this decline was driven by weakening business activity and demand normalization. Although the company implemented various strategic initiatives to boost revenue throughout 2025, these efforts have not yet been sufficient to deliver revenue growth compared with the same period in the previous year.
What happened?
