Indonesia Signs Bilateral Agreement for Major Fishing Fleet Modernization
What happened
Indonesia signed a bilateral agreement on October 1, 2026, to modernize its fishing fleet. This initiative aims to phase out the 91 percent of the current fleet that relies on wooden craft. The program involves building 1,582 vessels through a partnership with the United Kingdom, costing $2.25 billion, and producing 3,000 additional vessels domestically via state-owned enterprise PT Agrinas Jaladri Nusantara, costing $10.79 billion.
From antaranews.com
Why it matters
The government plans to use modern vessels featuring cold storage systems to curb post-harvest losses and allow fishers to command higher market prices. The total capital investment for the project is estimated at Rp234.55 trillion.
From antaranews.com
Who's involved
- IndonesiaThe sovereign nation implementing the fleet modernization initiative
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- National Nutrition AgencySpeculative
Cold storage systems could curb post-harvest losses, improving food supply chain efficiency.
- Ministry of TradeSpeculative
The Ministry of Trade could see increased fishers' purchasing power and higher market prices for their catch.
- Bank IndonesiaSpeculative
Bank Indonesia might face increased credit demand due to the large-scale state investment.
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The entities involved
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Indonesia
island country in Southeast Asia and Oceania
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Prabowo Subianto
President of the Republic of Indonesia
Related events
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