Rebranding and Market Expansion, PIS Singapore Now Becomes PIS Asia Pacific
Jakarta, July 5, 2023 - PT Pertamina International Shipping (PIS) has undergone rebranding for its subsidiary, PIS Singapore, which is now known as PIS Asia Pacific (PIS AP). This name change aligns with PIS's intensified global expansion efforts, particularly in reaching the Asia Pacific market.
"This rebranding is carried out to clarify that the Singapore office is indeed intended to serve the Asia Pacific market, not just the Singapore market," said CEO of PIS Yoki, Firnandi, during the PIS Asia Pacific office inauguration, which took place simultaneously with the PIS Asia Pacific Shareholders' General Meeting last week.
Currently, PIS has two overseas branch offices located in Singapore and Dubai. These two offices cater to different market characteristics, with the Asia Pacific market requiring more vessels to serve refined product commodities, while the Middle East market focuses on marketing more raw commodities.
According to Yoki, this rebranding also provides certainty to business partners in establishing agreements following the structure and areas of cooperation.
"Moreover, we also see that PIS AP is one of our growth engines. Thus, we will encourage this subsidiary to compete internationally," he added.
PIS Asia Pacific was established in 2018 and is headquartered in Singapore. The PIS branch office aims to strengthen the company's international business while enhancing its resources and capabilities.
As known, PIS Asia Pacific currently owns six vessels, including the twin VLCCs (Very Large Crude Carriers), namely Pertamina Pride and Pertamina Prime, Indonesia's largest pride tankers. The other vessels owned by PIS AP are PIS Polaris, PIS Paragon, PIS Prolific, and PIS Precious.
These PIS AP vessels have also served international shipping routes covering Europe, the Middle East, Asia, and Africa.
Following PIS branch office success in Singapore, in 2022, PIS opened a branch office in the Middle East called PIS Middle East. "This branch office’s opening is based on the Middle East market potential, which is still significant."
Vice President of Corporate Communication of PT Pertamina (Persero), Fadjar Djoko Santoso, added that PIS's expansion is part of Pertamina's efforts to become a global energy company with a USD 100 billion market value.
"The expansion abroad demonstrates Pertamina Group's commitment to Go Global and be ready to compete with international companies," said Fadjar.
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 Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.