Becoming Asian Champion, PIS Signs Cooperation Agreement with NYK

Nusa Dua, October 18, 2022 - Sub Holding Integrated Marine Logistics PT Pertamina International Shipping (PIS) and Nippon Yusen Kaisha (NYK), a Japanese shipping company, have signed a business collaboration agreement (Basic Agreement), which highlights key provisions of the Shareholders Agreement (SHA) and Strategic Alliance Agreement (SAA) regarding potential investments

This signing will make NYK a strategic partner of PIS, with the potential for business collaboration for LNG transportation on domestic and international routes.

This collaboration agreement was signed by the Director of Strategy, Portfolio, and Business Development (SPPU) of PT Pertamina (Persero), A. Salyadi Saputra, President Director of Pertamina Pedeve Indonesia, Rahmi Amini, CEO of PT Pertamina International Shipping, Yoki Firnandi, and Nippon Yusen Kaisha (NYK) Executive Officer, Yuji Nishijima. The signing was also witnessed by the Deputy Minister of BUMN I, Pahala Mansury.

"This agreement follows PIS' aspiration to become the Asian-Leading Integrated Marine Logistics Company. To support this aspiration, this year, PIS is targeted to collaborate with reputable partners to help develop PIS's business," said Director of Pertamina SPPU, A. Salyadi Saputra.

CEO of PIS, Yoki Firnandi ,added that cooperation with world-class companies such as NYK could expand PIS' expansion in the global market while developing PIS' capabilities to become the largest integrated marine logistics company in Asia.

The selection of NYK as a partner, said Yoki, was based on the consideration of NYK's big names as the TOP 2 Gas Carrier Owners.

"NYK has the expertise and long experience in the LNG transportation sector. NYK's advantages line with PIS's need to develop new business lines that are more environmentally friendly," he said.

Following the energy transition policy set by the government, PIS compiles a business roadmap in which, by 2030, 20% of the company's revenue will be contributed from green cargo. With this collaboration, it is hoped that it will provide positive benefits for the PIS business, especially in LNG transportation, to support the PIS road map towards a green integrated marine logistics company.

NYK welcomes the collaboration with PIS, which is expected to cover many business sectors related to energy. Starting from the VLCC (Very Large Crude Carrier), VLGC (Very Large Gas Carrier), offshore or offshore businesses such as the Floating Storage Regasification Unit (FSRU), new and renewable energy and fuel, even to the use of technology to reduce CO2 emissions and implementation of CCS/CCUS.

As is known, NYK is a leading shipping company in Japan. Currently, NYK has 826 vessels which 80 are LNG carriers. NYK's track record as a shipping company is also unquestionable, with its business spread in many parts of the world. Currently, NYK operates 21 ports and operates in 607 logistics centers in the world.**