Pertamina International Shipping Expands Its Activity To Become A Marglobal Maritime Logistics Player

Pertamina Shipping International (Photo: Antara)

JAKARTA - PT Pertamina International Shipping (PIS) is optimistic that it can maintain momentum and expand its role as a global scale maritime logistics player with a strong governance foundation and efficient financial performance.

This is also reflected in the positive achievements of various indicators of governance, efficiency, and productivity in the annual report for the 2024 financial year which was presented at the general meeting of shareholders (GMS).

"This positive performance indicates that the various operational and business transformations that we carry out are appropriate," said PIS Corporate Secretary Muhammad Baron quoting Antara.

He conveyed that it also emphasized the position of PIS as a logistics maritime company that is not only operationally competent, but also has a strong governance and financial foundation and is oriented towards sustainability aspects.

In terms of operations, PIS recorded a 37.9 percent reduction in operating expenses and growth in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of US$1.199 million, growing 21.16 percent compared to the previous year.

"This incision reflects the high level of efficiency and maintains the company's business profitability," he said.

He said that positive growth can be realized through various optimization efforts supported by operational digitization and the use of the latest technology in fleet management and shipping route planning.

PIS also managed to reduce the cost of revenue by 6.64 percent to 2.555 million US dollars or a decrease of 181 million US dollars compared to 2023.

"This achievement creates a healthier foundation of the maritime logistics ecosystem, as well as becomes an important asset for sustainable company growth," he said.

This achievement is also in line with PIS's commitment and its subsidiaries in Subholding Integrated Maritime Logistics (SH IML) to provide high-quality and international standard services in the commercial aspect.

The company's credibility in the eyes of global investors is getting stronger. PIS obtained a Baa3 credit rating with the stable outlook category from Moody's, a leading international rating institution that assesses the feasibility of corporate credit based on long-term risks and financial prospects.

In addition to boosts from a business perspective, PIS also shows significant quality development in human resource management (HR).

In the 2024 financial year, PIS managed to record an increase in Revenue per Employee (RPE) or an average contribution from workers to company revenues of up to 111 percent, from 899 thousand US dollars in 2023 to 1.89 million US dollars.

The increase reflects the efficiency, capability, and strong productivity of human resources in the company.

Furthermore, PIS also recorded significant achievements in the field of social and environmental responsibility (TJSL). During 2024, the TJSL PIS program has reached more than 111,000 beneficiaries with a total assistance of IDR 350 million spread across nine provinces of PIS operational areas.

In the environmental sector, PIS contributes to the preservation of the coastal ecosystem through planting more than 10,000 mangroves and seagrass.

This commitment contributed to reducing carbon emissions by 51,357 tons of CO2 or 47 percent above the annual target.

For these various sustainability initiatives, PIS obtained the MSCI ESG Provisional Rating BBB, the highest score in the current national maritime industry.

This achievement also emphasizes PIS' consistency in maintaining a balance between business performance and environmental responsibility.