Industrial Trends Are Projected To Improve, PIS Is Optimistic To Print Positive Performance In 2025

JAKARTA - Pertamina International Shipping (PIS) is optimistic that it will again score a positive performance in 2025, along with the industrial trends that are projected to improve and grow this year.

At the end of last year, Fitch Ratings Global published a shipping and shipping industry outlook that gave a positive signal, turning the industry's outlook from 'strengthening' to 'stable' in 2025.

PIS as the Sub Holding Integrated Marine Logistic (SH IML) and the largest tanker company in Southeast Asia, welcomed the outlook by preparing a strategy to take advantage of this momentum.

"PIS certainly caught the positive signal of the market by routinely innovating until it managed to record a profit of USD 280.9 million in the first half of 2024. This achievement triggered PIS to develop a careful strategy to seize business opportunities this year," said PIS Business Planning Director Eka Suhendra in a statement in Jakarta, quoted by Antara, Monday, January 13.

Eka explained, since 2022 there has been an increase in the market which has had a positive impact on the shipping industry. In this period, demand for the construction of new ships has also boomed at shipyards around the world.

Throughout 2024, the shipping industry is in a fairly stable state. It is estimated that by the end of 2024 the Global Seaborne Trade or cross-sea trade in the world will reach a total of 66.551 tonne-miles billions with an average demand growth of 6.5 percent. Shipping rates also increased by 35 percent above the average shipping rate of the last 10 years.

"The industrial positive signal this year is also added with certainty from the results of the US election, which shows that oil and gas transportation in the coming years is still interesting," said Eka.

Despite industry projections and the company's bright performance, a number of challenges remain looming this year, starting from geopolitical dynamics, international regulatory pressures, and the projected volatility of energy prices will still have an impact on PIS' business activities.

"PIS will get around these challenges by increasing insurance and looking for safer routes, as well as opening up opportunities for diversification of green cargo cargo to reduce fluctuating energy price fluctuations," he said.

In addition, PIS looks to 2025 as a crucial transition period in the sustainable aspect. PIS has been prepared to address the overall energy transition roadmap, such as fleet modernization with dual-fuel technology, energy-saving devices investment, operational digitization, and green terminal development. With this approach, PIS not only meets emission standards, but is also a pioneer of environmentally friendly shipping for a more sustainable and competitive future.

"We also focus on taking advantage of the momentum of market stability by setting competitive rates, expanding the reach of international routes, and adopting environmentally friendly technology to meet industry demands that are increasingly sustainability-oriented," added Eka.

In addition, PIS optimizes synergies with subsidiaries, such as PT Pertamina Trans Kontinental and PT Pertamina Energy Terminal, to support more integrated logistics needs.

"With this strategy, we believe we can maintain positive growth and strengthen our position as a supporter of national energy security, as well as a significant player in the global shipping industry," said Eka.