Abstract:
This study aims to analyze the impact of delays in the payment of ship operational costs
on cash flow and agency service payments at PT Bahari Tirta Jaya Lines. Payment delays
by principals disrupt the company's cash flow, which subsequently affects the smooth
operation and fulfillment of obligations to third parties. The research method employed
is a quantitative approach using Partial Least Squares Structural Equation Modeling
(PLS-SEM) with the SmartPLS 4.0 application. Data was collected through
questionnaires and financial documentation from the company. The findings reveal that
delays in operational cost payments significantly affect cash flow, and cash flow, in turn,
has a significant impact on agency service payments. These findings underscore the
importance of effective disbursement management and automated payment reminder
systems to maintain the financial stability of shipping companies. The implications of this
study provide strategic recommendations for strengthening financial governance in the
ship agency service sector.
