Oil Prices Skyrocket, PIS Managing Director Reveals Influence On His Business

Illustration of crude oil prices (Photo: dock. Antara)

JAKARTA - World oil prices have recently continued to rise to penetrate 90 US dollars per barrel.

Responding to this, the President Director of PT Pertamina International Shipping (PIS) Yoki Firnandi revealed the impact of increasing world oil prices on the oil and gas transportation business.

According to him, oil prices do not always collaborate with ship rental price transportation but have more effect on demand and supply and demand for oil and gas transportation

"Sometimes geopolitical disturbances and others have an effect," said Yoki, quoted on Wednesday, September 27.

He added, in addition to influencing the superplay and demand, the increase in world oil prices also affects the cost side to transport oil and gas because the price of fuel to operate the uga turu ship has increased.

"It must have gone up because the fuel went up because of the world's oil prices," Yoki continued.

However, he ensured that this increase in oil prices would not affect the company's performance because in the end this price increase would burden end users.

However, the increase in world oil prices did not dampen PIS' move to increase its fleet. Yoki said that his party plans to add 10 ships this year so that by the end of the year there are 103 ships owned by PIS.

Yoki said the addition of this fleet was intended for future business needs.

As for 2023, throughout this year PIS has added 5 ships to its fleet.

"Now it's 5 to August 2023, and there will be a few more until the end of the year. Hopefully we will work as much as possible up to 10 to become 5 more," said Yoki, quoted on Wednesday, September 27.

Until now, the total fleet owned by PIS is 98 ships and is targeted to number 103 by the end of this year.

Yoki added that the ships that will be operated by PIS vary, namely ships to transport oil, gas and petrochemicals.

Meanwhile, this year's addition of ships has also taken into account Indonesia's steps in achieving the Net Zero Emissions taget by holding a dual fuel-tech ship that combines fuel oil and LNG.