Pertamina International Shipping Will Acquisition 12 To 14 Ships Throughout 2023

Illustration (Photo: Doc. Antara)

JAKARTA - PT Pertamina International Shipping (PIS) plans to acquire 12 to 14 ships throughout 2023.

PT PIS President Director Yoki Firnandi revealed that his party estimates that this acquisition process will require at least 300 million US dollars.

"Especially in 2023, we have allocated a number of capexs to invest and specifically for ships, we have planned in 2023 to acquire 12 to 14 new and second vessels, which according to our calculations are needed for capex of more than 300 million US dollars in 2023 alone," said Yoki at Energy Corner, Monday, February 20.

Yoki continued, PIS had indeed planned to invest in the number of tankers, both for transporting crude oil and for transporting liquefied natural gas (LNG).

For crude oil carriers, Yoke continued, POS targets ships the size of Suezmax which can transport up to 1 million barrels of oil.

"We will also enter the LNG ship. The LNG ship is already modern and has a capacity of up to 175.000 cubic meters," Yoki explained.

For this action, he continued, his party still needs support in the form of funding from both domestic and foreign banks who have become PIS partners.

Yoki added that the company is also targeting the growth of Ebitda margins to double digits in 2025.

"The challenge is that we see one that to make this investment the price of the ship's assets is very good, both new and second hand ships," he added.

According to Yoki, this was driven by an increase in the price of steel for new ships. When compared to 2019, he continued, the price of new ships has increased by 30 percent.

Meanwhile, for second ships, the price increase has reached 50 percent compared to 2019.

"This is because the demand for ships is a lot, so on the one hand we have to grow but the price of assets for our business development is appreciated by price," concluded Yoki.