Pertamina sets aside $4bn for fleet rejuvenation

Indonesia’s state-run energy giant Pertamina has created a new shipping division and allocated $4bn to buy new ships and upgrade terminals over the next seven years.

According to Reuters, Pertamina International Shipping (PIS) will replace 23 ageing vessels and expand its fleet and look to list in Jakarta within the next two years.

As well as crude and product tankers, PIS is expected to invest heavily in small to medium sized LNG carriers to provide energy across Indonesia’s sprawling archipelago of 17,508 islands.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button