Japan’s Nippon Yusen Kaisha (NYK) is investing in Indonesia’s best-known shipping line, reaching a basic agreement to invest in Pertamina International Shipping (PIS), a shipping subsidiary of Pertamina, a state-owned oil and gas company. The parties plan to conclude an investment agreement and complete the investment by the end of 2022. Specific details of the size of the investment have not been revealed.
Pertamina is the largest state-owned oil and gas company in Indonesia. NYK has been collaborating with PIS for years, particularly in shipmanagement in the field of energy transportation.
NYK plans to conclude a long-term strategic partnership agreement with PIS and will collaborate with PIS in a wide range of businesses, including those associated with crude oil, petroleum products, LNG transportation, floating storage and regasification units (FSRUs). NYK and PIS also intend to collaborate on carbon capture and storage (CCS).
