Direct Expenses REVENUES, EXPENSES, AND INCOME 1. Revenues

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2. Direct Expenses

in thousands of Rupiah Information 31 December For the period of 6 six months ended on 30 June 2007 2008 2009 2010 Vessel Charter 58,043,607 61,943,776 118,852,423 98,740,930 Depreciation of vessels 28,118,277 31,683,843 42,559,428 27,376,811 Crew expenses 18,852,184 22,789,816 29,414,190 16,409,781 Fuel and lubricants 26,462,661 27,683,636 28,686,658 7,797,528 Vessels operations 17,981,548 20,463,525 22,178,515 31,159,762 Maintenance 6,014,011 15,370,774 21,113,363 6,335,640 Cost of supplies sold 2,296,335 442,070 690,971 - Total 157,768,621 180,377,440 263,495,549 187,820,452 The period of 6 six months ended on 30 June 2010 Direct expenses of the Company comprise Vessel Charter, depreciation of vessels, crew expenses, fuel and lubricants, vessels operations, maintenance and cost of supplies sold. Direct expenses of the Company for the period of 6 six months ended on 30 June 2010 amounted to Rp.187,820,452 thousand, or approximately 71.28 of the direct expenses for the year ended on 31 December 2009. The increase in direct expenses is primarily due to Vessel Charter direct expenses caused by the increase in direct expenses of the Platform Supply Vessels, which began operations in May 2010. Vessels Charter also increased in the period of 6 six months ended on 30 June 2010 due to the increase in the Revenues of the chartering division. Comparison between the year ended on 31 December 2009 and the year ended on 31 December 2008 Direct expenses of the Company increased by Rp.83,118,109 thousand or approximately 46.08 from Rp.180,377,440 thousand in 2008 to Rp.263,495,549 thousand in 2009. This increase primarily originated from the increase in Vessel Charter expenses amounting to Rp.56,908,647 thousand or approximately 91.87 due to the increase in revenues of chartering division. The Company’s direct expenses also increased due to the increase in revenues of the chartering division. In addition, the increase in direct expenses was also due to the increase in depreciation of vessels of Rp.10,875,585 thousand or approximately 34.33 compared to 2008, which was caused by the fleet renewal of vessels with the average acquisition value of the new vessels being higher than those of the previous vessels. Maintenance experienced a significant increase due to the increase in the total vessels scheduled for docking in 2009 20 vessels compared to 2008 11 vessels. Comparison between the year ended on 31 December 2008 and the year ended on 31 December 2007 Direct expenses of the Company increased by Rp.22,608,819 thousand or approximately 14.33 from Rp.157,768,621 thousand in 2007 to Rp.180,377,440 thousand in 2008. This increase was primarily due to the increase in vessels maintenance expenses amounting to Rp.9,356,763 thousand or approximately 155.58 and vessel depreciation amounting to Rp.3,565,566 thousand or approximately 12.68 compared to 2008. Along with the fleet renewal process, the higher acquisition price of the new vessels caused larger depreciation expenses and higher maintenance expenses. Although oil prices experienced a significant increase in 2008, the total fuel and lubricants expenses of the Company only increased by 4.61 because, in accordance with the time char- ter contract, the fuel expenses are borne by the customers. Development of Direct Expenses of the Company 2007 – 30 June 2010 158 180 263 188 2007 2008 2009 30 June 2010 in Millions Rupiah Direct Expenses 19 19

3. Gross Profit