Funding Bag Of IDR 2.81 Trillion, Pertamina International Shipping Will Be Ship Investment

Illustration of LNG ship (Photo: Antara)

JAKARTA - Subholding Integrated Marine Logistics (IML) PT Pertamina International Shipping (PIS) pocketed a total funding of 185 million US dollars or IDR 2.81 trillion (exchange rate of IDR 15,210 per US dollar).

PIS Finance Director Diah Kurniawati explained that this funding will be used for ship investment and LPG terminal infrastructure managed by IML Subholding.

"This funding continues the success of previous funding in 2021 amounting to 134 million US dollars for the purchase of 2 VLCCs, which is the largest oil tanker investment in the last 10 years in Pertamina and Indonesia," he said in an official statement quoted on Friday, February 17.

The funding obtained by PIS comes from national banks as well as foreign countries, including SMBC, BNI, Bank Mandiri, BTPN, Mizuho, and MUFG.

"This indicates a very high level of investor confidence in PIS and this investment is also a meaningful support to increase the company's business growth going forward," said Diah.

Currently, the management of both Pertamina Pride and Pertamina Prime VLC vessels is carried out by PIS PL to optimize the VLC operations by expanding the new market share regionally and internationally. Furthermore, PIS Operations Director and PIS Managing Director, PIS Praliant Perdana, said that this VLC ship could bring in more business opportunities for the company and contribute to the wider expansion of the PIS market target.

PIS CEO Yoki Firnandi appreciates the support of investors in funding the company's business.

"PIS certainly grows more aggressively, to realize its aspirations and vision to become an integrated maritime shipping and logistics company that is at the forefront of Asia," said Yoki.

PIS currently has a global strategic partner, namely NYK which is a world shipping giant.

"In the future, we are optimistic that the PIS business will further develop with market expansion to areas of America, Europe, the Middle East, and East Asia which are increasingly being implemented," concluded Yoki.