Collaborating With Hyundai, PIS Will Build 2 LPG Tanker Ships

JAKARTA - PT Pertamina International Shipping (PIS) signed a contract with Hyundai Mipo Dockyard Co.Ltd for the construction of two LPG tankers with dual-fuel technology.

It is planned that the 2 new Handysize vessels, each containing 23 thousand cubic meters, are targeted to be completed in May and October 2026 and will be used for the transportation of LPG commodities and can also be used to transport ammonia.

PIS CEO Yoki Firnandi said the collaboration with the Hyundai Group was based on the consideration of Hyundai's track record, which is known as one of the best construction and shipyard companies in the world.

We have to work with the best partners to get the best ships, and work with the best. We believe we will get the ship with the best quality because it is handled by the best companies in class, to support our business going forward," Yoki said in a statement to the media, Friday, February 23.

PIS, said Yoki, has a business growth target of an average of 11 percent per year and in the next 10 years it could reach revenue of up to 9 billion US dollars or 3 times what it is today.

"Therefore, we are very aggressive in expanding and adding a fleet, both by building new ships and purchasing existing ships," continued Yoki.

The addition of two handysize vessels that will be used for LPG transportation (and able to transport ammonia) is also evidence of PIS' commitment to support the energy transition in line with the Pertamina Net Zero 2060 target.

The two newest ships are confirmed to have the latest technology and use a dual-fuel system or two fuel tanks to make them more environmentally friendly.

"This is in accordance with PIS's business commitment to support ESG and decarbonization by increasing the portion of energy carriers that are more environmentally friendly," he added.

Yoki also emphasized that the addition of this fleet is also in line with the company's efforts to support national energy security, where energy needs continue to increase every year.

President and COO HD Hyundai Group Park Seong Yong warmly welcomes the collaboration established with PIS.

"We believe we have the same passion and strategy to develop, and hold that spirit to achieve the target," he concluded.