PIS obtained US$185 million in funding to invest in ships and infrastructure
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Dailly - PIS kantongi pendanaan US$ 185 Juta untuk investasi kapal dan infrastruktur
20 February 2023
Jakarta - The integrated marine logistics subholding, PT Pertamina International Shipping (PIS), obtained a funding of US$185 million to invest in ships and LPG terminal infrastructure. The funding obtained by PIS came from national and international banks, which include SMBC, BNI, Bank Mandiri, BTPN, Mizuho, and MUFG.
“This shows that investor trust in PIS is high, and this investment is also a significant support to improve business growth in the future,” PIS Finance Director Diah Kurniawati said last week.
This funding continues the success of the previous funding in 2021 that reached US$134 million to purchase 2 VLCCs, which is the largest investment in oil tankers in the last 10 years in Pertamina and Indonesia.
“We believe that the funding for investment in new assets in PIS will boost PIS’ revenue and profit in 2023,” Diah continued.
Currently, the management of the two VLCCs, Pertamina Pride and Pertamina Prime, is conducted by PIS PL to optimise the operation of the VLCCs by expanding new market shares regionally and internationally. Furthermore, PIS Operations Director as well as PIS PL Managing Director Brilian Perdana said that “these VLCCs can attract more business opportunities for the company and contribute to expand PIS’s market target that is increasingly larger.”
PIS CEO Yoki Firnandi appreciates the support of the investors in funding the company’s business. “PIS is surely growing aggressively to realise our aspiration and vision of becoming the leading integrated maritime shipping and logistics company in Asia.”
Yoki said that PIS currently NYK as a strategic partner, which is a global shipping giant. “In the future, we are optimistic that PIS’ business will develop by expanding to the markets in the Americas, Europe, the Middle East, and East Asia, which is what we are carrying out more intensely,” he said.
