ASIATODAY.ID, JAKARTA – PT Pertamina International Shipping (PIS) signed a contract with Hyundai Mipo Dockyard Co.Ltd for the construction of two LPG tankers with dual fuel technology. This is one of the company’s strategies to increase revenue in the long term.
After signing a contract to build 15 Medium Range (MR) tankers in Korea in January 2024, PIS has now signed a contract with Hyundai Mipo Dockyard Co. Ltd for the construction of two LPG tankers with dual-fuel technology.
The plan is for two new handysize ships, each with a capacity of 23,000 cubic meters, to be completed in May and October 2026. The ship will be used to transport LPG and ammonia commodities.
The signing of the tanker construction took place on Thursday, February 23 2024, in Nusa Dua, Bali. This event was attended by PIS CEO Yoki Firnandi and HD Hyundai Group President and COO Park Seong Yong. HD Hyundai Group is the parent company of Hyundai Mipo Dockyard.
PIS CEO Yoki Firnandi said that this collaboration with the Hyundai Group was based on Hyundai’s track record, which is known as one of the best shipbuilding and construction companies in the world.
“We have to work with the best partners to get the best ships, and work with the best. We are confident that we will get the best quality ship because it is handled by the best company in its class, to support our business in the future,” said Yoki, quoted from a press release, Sunday, February 25 2024.
Yoki explained that PIS has a business growth target of an average of 11% per year and in the next 10 years it can achieve revenues of up to $9 billion or 3 times more than now.
“Therefore, we are very aggressive in expanding and adding to our fleet, both by building new ships and purchasing existing ships,” he explained.
The addition of two handysize vessels which will be used to transport LPG and ammonia is also proof of PIS’ commitment to supporting the energy transition in line with Pertamina’s Net Zero 2060 target. These two newest ships are certain to have the latest technology and use a dual-fuel system or two fuel tanks so they are more environmentally friendly.
“This is in line with PIS’ business commitment to support ESG and decarbonization by increasing the portion of energy carriers that are more environmentally friendly,” he added.
Yoki also emphasized that the addition of this fleet is also in line with the company’s efforts to support national energy security, where energy needs continue to increase every year.
“PIS will continue to grow together with Pertamina Group to maintain national energy security, and will continue to develop our screen with various expansions and innovations that can encourage the country’s economic growth, as well as make Indonesia proud on the global stage,” he added.
HD Hyundai Group President and COO Park Seong Yong enthusiastically welcomed the collaboration with PIS.
“We believe we have the same spirit and strategy to develop, and hold that spirit to achieve targets,” he explained. (AT Network)
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