Jakarta: Indonesian state-run energy giant is looking to save up to $100m a year by switching its crude oil and LPG shipping to free on board (FOB) rather than cost and freight (CFR), as the conglomerate reacts to lower oil prices.
In a report carried by Platts, Pertamina officials said plans were afoot to grow the company’s fleet from 64 to 90 ships.
Pertamina has been tendering for a series of vessels with many expected to be built in Korea and China, but also a sizeable contingent to be built on Indonesian soil as Jakarta looks to boost maritime know-how in the archipelago.
