...in the future, we hope to establish more strategic cooperation between the two companies. This includes the formation of joint ventures and ship management.
Jakarta (ANTARA) - Deputy Minister of Foreign Affairs, Pahala Mansury, asked PT Pertamina International Shipping (PIS) and Japan's Nippon Yusen Kabushiki Kaisha (NYK) to step up strategic collaboration during a recent meeting between the two companies.

The meeting, which was held at the Indonesian embassy in Tokyo, Japan, discussed the synergy between the two companies over the past year as well as business potential that could be tapped in the future.

"After that, in the future, we hope to establish more strategic cooperation between the two companies. This includes the formation of joint ventures and ship management," Mansury said, according to an official statement released by PT PIS in Jakarta on Tuesday.

Mansury lauded the synergy established by the two companies since the process of unlocking the value of PIS and NYK at the end of 2022, with shipping giant NYK officially becoming a PIS shareholder.

The meeting opened with NYK expressing its appreciation for PIS' performance in 2023, which was marked by significant profit. PIS reaped a profit of US$330 million, an increase of 60.9 percent compared to 2022.

According to the chief executive of NYK's energy division, Hironobu Watanabe, NYK is interested in increasing collaboration with the Pertamina Group, especially PIS, specifically in the new and renewable energy sector, such as transportation of ammonia, and carbon capture and storage/CCS, among others.

"We have to start implementing decarbonization and reducing emissions from the shipping industry in the future; for that, we want to discuss this with PIS," he added.

Director of SPPU Pertamina, A. Salyadi Saputra, informed that Pertamina Group has a number of new and renewable energy development projects, including in transportation and green business, which PIS will focus on.

"Of course, currently, it is being carried out by PIS, such as transporting ammonia, and in the future, it will also develop LNG. We hope that NYK can collaborate for this green business in the future," he said.

The potential collaboration will cover cooperation in ship management or ship management activities, including ship crew maintenance and management.

Currently, PIS has a ship management collaboration with NYK for two very large crude carriers (VLCCs) — VLCC Pertamina Pride and VLCC Pertamina Prime — which sail on international routes.

"In the future, PIS will also hand over several more ships, including VLGC (very large gas carrier) ships, which have the potential for collaboration in terms of ownership and ship management," the director of crude and petroleum tanker at PIS, Brilian Perdana, said.

PIS has an unquestionable track record in environmentally friendly energy transport businesses using VLCC and international shipping credibility, he added.

He said he believes that PIS' business history could be beneficial for both parties for future collaborations.

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Translator: Faisal Yunianto, Cindy Frishanti Octavia
Editor: Azis Kurmala
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