Profits Soar by 63% in 2022, PIS Aims for Business Expansion

Jakarta, June 1, 2023 - PT Pertamina International Shipping (PIS) has recorded a significant increase in net profit throughout 2022, reaching 63.5% or US$205.1 million compared to the same period in 2021. This profit increase reflects the company's operational growth.

It was revealed at the Annual General Meeting of Shareholders (AGM) of PIS, attended by Nicke Widyawati, the President Director of PT Pertamina (Persero) as the majority shareholder of PIS, as well as PT Pertamina Pedeve Indonesia and NYK Line Indonesia, representatives of Nippon Yushen Kabushiki Kaisha (NYK) as PIS's strategic partner.

"Looking at what PIS achieved in 2022, shareholders are optimistic that PIS has the organizational capability and structure to continue to grow," said Nicke Widyawati.

Nicke emphasized the importance of PIS continuing to implement long-term strategic plans and keeping up with global energy industry developments. Nicke specifically appreciated the collaboration established with NYK, believing it could open up new markets, especially in the LNG transportation business.

"When we look at the infrastructure from upstream to downstream, it becomes a strong foundation for further development into other products such as hydrogen, ammonia. The wider the business opportunities that open up, the greater the need for significant investments, so there must be a leap in financial capabilities," she added.

She explained that the collaboration between PIS and NYK as a global partner could bring potential resources and drive PIS's business to a higher level in the global market.

CEO of PIS, Yoki Firnandi, added that as a subholding of PT Pertamina (Persero) Integrated Marine Logistics, the increase in profits encourages PIS to expand its efforts to the international arena.

In 2022, Yoki acknowledged that they were able to complete investments and strategic alliances with NYK, finalize the acquisition of the vessel MT PIS Precious, and open a PIS Middle East branch office in Dubai in an effort to expand its global market share.

In line with this, Fadjar Djoko Santoso, VP Corporate Communication of PT Pertamina (Persero), explained that Pertamina consistently supports PIS's strategic plans to ensure the continuous improvement of its business prospects. "With its competent facilities and human resources, we believe that PIS is becoming increasingly competitive as a sustainable global company," he said.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the achievement of the Sustainable Development Goals (SDGs). All these efforts align with the Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**