PENGARUH KETERLAMBATAN BIAYA OPERASIONAL KAPAL DAN PEMBAYARAN JASA KEAGENAN TERHADAP CASHFLOW DI PT BAHARI TIRTA JAYA LINES

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.