PIS And Petronas Subsidiaries Establish Ship Rental Cooperation

Illustration (Photo: Doc. Antara)

JAKARTA - PT Pertamina International Shipping (PIS) through its subsidiary, PIS Asia Pacific (PIS AP) signed a collaboration with Petronas subsidiary PETCO Trading Labuan Company Ltd (PTLCL).

The agreement signed was in the form of a time charter ship rental cooperation by PTLCL to PIS AP for a number of ships, including 2 ships belonging to PIS, namely the MT Sanggau ship and MT Gunung Geulis.

The contract value that was successfully contracted reached US$ 32.8 million with a contract period ranging from 175 days to one year.

The signing was carried out by the Managing Director of PIS AP Muhamad Resa and and the Head of Logistics and Rental of PTLCL M Radzi B Ramli, and witnessed by the Director of PIS Operations Brilian Perdana, PIS Commercial Director Arief Sukmara, PIS Fleet Director Muhammad Irfan Zainul Fikri and PTLCL CEO Shamsul Bahari Salleh.

This cooperation shows high consumer confidence in PIS. This is certainly our capital to continue developing international markets and realizing the company's mission to become a leading shipping company and marine logistics in Asia," said Brilian in a written statement received by VOI, Wednesday, September 6.

Brilian added, this agreement also strengthens the cooperation that has existed between PIS and PTLCL since 2021 through time schemes and spot rentals.

"Previously, PIS and PTLCL had also contracted for the rental of the MT Papandayan ship with a spot rental scheme," he added.

So that today, the total value of the cooperation contract that has been established from 2021 to 2023 between PIS and PTLCL reached 44.5 million US dollars.

Just so you know, the aggressiveness of PIS in developing non-captive markets has proven to produce satisfactory results.

In the first semester of 2023, PIS has managed to record non-captive market revenues of US$369.9 million or 22.8 percent of total revenue, a significant increase from the proportion of 15.7 percent throughout 2022.