Partnering with Japanese Shipping Giant NYK, PIS Signs Strategic Business Agreement!
Jakarta, June 26, 2024 – PT Pertamina International Shipping (PIS) is strengthening its commitment to becoming a world-class maritime logistics company by signing a memorandum of understanding (MoU) for a strategic business agreement with Nippon Yushen Kabushiki Kaisha (NYK) Group.
NYK, a leading shipping company in Japan and globally, has been a strategic partner of PIS since the end of 2022. The strategic partnership will expand through a business agreement covering the transportation of liquid carbon dioxide, liquefied natural gas (LNG), and ship management.
This strategic partnership is a tangible commitment to supporting Indonesia's national agenda as a leader in Carbon Capture and Storage (CCS) and emission reduction. The MoU was signed at Pertamina's headquarters and attended by the President Director of PT Pertamina (Persero), Nicke Widyawati, CEO of PIS, Yoki Firnandi, and Managing Executive Officer of NYK Hironobu Watanabe.
“I am proud to witness this signing as a continuation of the strategic partnership that has been in place between PIS and NYK since December 2022. It is the beginning of our journey, and the most important thing is how we can accelerate business implementation to become a new revenue stream for PIS,” Nicke said.
CEO of PIS, Yoki Firnandi, emphasized the importance of collaboration and PIS’s readiness to play a significant role in CCS transportation with NYK. "This MoU with NYK drives PIS's initiative to unlock value and grow beyond Indonesia through long-term partnerships and close relationships with our shareholders. This MoU also symbolizes PIS's readiness to become a leading aggregator of CCS transportation and logistics in the region. We hope this partnership will encourage technology transfer and NYK's expertise in carbon emission reduction.”
PIS will focus on the transportation chain in the CCS process, which requires special ships and carbon storage facilities. In addition to supporting the government, this collaboration aligns with the Pertamina Group’s commitment to achieving Net Zero Emissions by 2060 through CCS technology and other emission reduction initiatives across the company and its subsidiaries.
NYK Managing Executive Officer Hironobu Watanabe explained that cooperation with PIS is important for NYK, considering PIS is a key player in Indonesia’s shipping industry.
“We have had many discussions about this cooperation plan, and it is time to turn the agreement on paper into real business,” said Watanabe.
Through this agreement, NYK and PIS will collaborate and explore business opportunities and feasibility studies for liquid CO2 transportation and storage to and from Indonesia. In the LNG business, both parties agreed to collaborate on LNG carrier ownership. Meanwhile, for ship management, NYK and PIS will form a joint venture, with NYK providing training to enhance the capacity of sailors to compete globally.
“The collaboration between NYK and PIS sets a new standard in the maritime industry in global efforts to reduce carbon emissions and promote sustainable development. As the world moves towards a greener future, the PIS and NYK partnership exemplifies the crucial role of innovation and collaboration in achieving sustainable environmental goals,” concluded Yoki.
Separately, Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, said that Pertamina, through SH IML in this case Pertamina International Shipping, continues to be aggressive and tactical in strengthening its fleet and transportation business at the global level.
"The cooperation between PIS and NYK is proof of Pertamina’s seriousness in becoming a world-class company in energy transportation and realizing Pertamina's commitment to gaining the trust of stakeholders and investors," said Fadjar.**