Pushing Economic Growth, Pertamina Supports PIS Transformation Into Subholding Integrated Marine Logistics

Illustration/PR Pertamina

JAKARTA - PT Pertamina (Persero) continues to support the implementation of a series of transformation processes for PT Pertamina International Shipping (PIS) from previously as Subholding Shipping to transforming into Subholding Integrated Marine Logistics. This transformation also aims to encourage national economic growth.

President Director of PIS, Erry Widiastono said this transformation was a strategic step mandated by Pertamina as a shareholder to support the achievement of the targets set.

"This transformation is carried out so that PIS can move quickly in developing its business portfolio in the global arena," he said in a written statement, quoted on Sunday, September 12.

Erry said, the transformation of PIS from Subholding Shipping to Subholding Integrated Marine Logistics provides benefits from both a business and non-business perspective. Among other things, PIS can independently implement strategies and optimize business through collaboration with domestic and international partners in order to improve reliability and operations in the fields of sea transportation, marine services, and logistics.

"In addition, companies can conduct financial funding independently from banking institutions both domestically and abroad. Encourage PIS to have professional and quality manpower, transparent company management in accordance with GCG, and reliable and efficient company operations. have good credibility and reputation in the eyes of customers and investors," he said.

Erry said PIS has several programs with predetermined targets, including achieving an EBITDA target of above 300 million US dollars, with a net profit of around 110 million US dollars and generating revenue above 2 billion US dollars to support Pertamina as a group in realizing its aspirations to be in a position the world's top 100 Global Fortune 500 companies with a valuation of 100 billion US dollars by 2024.

"To support the achievement of these targets, PIS needs to expand its business through sea transportation between ports in Indonesia and increase export/import cargo transportation for both the Pertamina group and non-pertamina markets (3rd party business)," he said.

Then, said Erry, PIS also improves services for tools related to shipping and serves offshore logistics that are integrated with port service managers, agency, oil spill response and others.

"In addition, PIS also has a target of optimizing logistics services by transferring 6 terminals which are managed directly by the IML Subholding (Bau-Bau Fuel Terminal, Kotabaru, Sambu, Tanjung Uban and Tanjung Sekong and Tuban LPG Terminals)," he said. PIS has prepared a strategy to become a global player

After being inaugurated on Wednesday, May 5, 2021, PIS is increasingly ready to carry out its mandate to expand its business to become an integrated international marine logistics company.

Pertamina International Shipping President Director Erry Widiastono said, to support this, PIS has just received the transfer of shipping assets from PT Pertamina (Persero) which includes 71 units of Pertamina's ships, marine assets non-tethering facilities, and Pertamina's ownership stake in PT Pertamina Trans Kontinental. (PTK).

"Through the handover of these assets and in the process of receiving 6 (six) terminal assets, PIS in the future will not only manage the shipping business, but also as an Integrated marine logistics company," said Erry.

The next step, PIS will make PTK as a business entity in coordination of PIS and at the same time hand over assets of Non-mooring Marine facilities (other than land and buildings) to PTK. This strategic step is part of the corporate action plan in integrating the marine logistics business into the scope of Subholding Shipping which is expected to develop further on a national and global scale.

PTK, as it has been integrated with PIS in running its business in the future, is a subsidiary of Pertamina that provides shipping services, integrated maritime services, and logistics services. Having been operating since 1969, PTK's operational area stretches from Sabang to Merauke, which currently has more than 50 types of services.

As the first shipping and maritime service company in Indonesia, PTK uses environmentally friendly hybrid engine tugboats as a form of the company's commitment to meet the expectations of the global community for a responsible business entity. In carrying out its services, PTK has 4 Subsidiaries and 1 Joint Venture, with 11 Branch Offices.