Profit Prints 138.5 Million US Dollars, PIS Disburses A Number Of Transformation Steps Since 2022

JAKARTA - PT Pertamina's Sub Holding Integrated Marine Logistics (SH IML) (Persero), Pertamina International Shipping in the first semester of 2023 managed to score a net profit of 138.5 million US dollars. This number is up 93 percent compared to the same period last year which amounted to 71.7 million US dollars.

PIS Business Planning Director, Wisnu Medan Santoso said, this profit achievement was supported by business transformation and market expansion outside the Pertamina Group, including through the addition of new giant ships.

"Throughout 2022 to 2023, PIS is actively carrying out transformations, including having invested as many as 5 new ships," said Wisnu in an online discussion, Tuesday, August 29.

Wisnu detailed that the 5 new ships consisted of Dr. Very Large Gas Carrier PIS Amarilis, two chemical medium-length ships and two small gas carriers. In addition, PIS will also bring in abru ships in the near future.

"It will be as soon as the small Chemical ship arrives. So we are actively adding ships and raising businesses," continued Wisnu.

In addition to adding more ships, he said, another business strategy carried out by PIS was to develop a business network by opening a branch office in Dubai in December 2022.

However, Wisnu said that the main contribution of the PIS business still came from its main task of delivering fuel and LPG for Pertamina's needs.

"So there are around 80 percent that are still centralized from Pertamina group but we are slowly diversifying from the direction of the Pertamina group's non-captive market. Of course, this flagship ship is the spearhead for us to seize opportunities in that sector," explained WIsnu.

Just so you know, revenue from non-captive markets in the first semester has reached 369.9 million US dollars or 22.8 percent of total revenue, growing significantly from a proportion of 15.7 percent throughout 2022.