PIS Successfully Raises US$ 185 Million in Funding, Increasing Investment in Ships and Infrastructure
Singapore, February 16, 2023 - Integrated Marine Logistics (IML) Subholding, PT Pertamina International Shipping (PIS) has successfully secured funding of US$ 185 million for investment in ships and LPG terminal infrastructure managed by Subholding IML.
This funding continues the previous funding success in 2021 of US$ 134 million for two VLCC purchases, which is the largest oil tanker investment in the last ten years at Pertamina and Indonesia.
Director of Finance of PIS, Diah Kurniawati, explained that the funding obtained by PIS came from national and foreign banks, including SMBC, BNI, Bank Mandiri, BTPN, Mizuho, and MUFG.
“This indicates a very high level of investor confidence in PIS, and this investment is also a significant support for increasing the company's business growth in the future," said Diah on Wednesday (15/2).
"We believe the funding for investing in new assets at PIS will boost PIS' revenue and profits in 2023," Diah continued.
Currently, the management of the Pertamina Pride and Pertamina Prime VLCC ships is carried out by PIS PL to optimize VLCC operations by expanding new market shares regionally and internationally. Furthermore, the Director of Operations of PIS, as well as Managing Director of PIS PL, Brilian Perdana, said, "This VLCC ship can bring more business opportunities for the company and contribute to the wider PIS target market expansion."
CEO of PIS, Yoki Firnandi, appreciated the support from investors in funding the company's business. "PIS is growing more aggressively to realize its aspirations and vision of becoming the leading integrated shipping and maritime logistics company in Asia."
Yoki also conveyed that PIS has a global strategic partner, NYK, a world shipping giant. "In the future, we are optimistic that the PIS business will further develop with market expansion to the Americas, Europe, the Middle East, and East Asia which are increasingly being implemented."**