Pertamina's shipping unit to double tanker fleet in next 10 years (updated)

Nippon Yusen Kabushiki Kaisha

19/09/2024 18:05

(Adds context, details in paragraphs 3-5)
       HOUSTON, Sept 19 (Reuters) - The shipping unit of
Indonesia's state energy firm Pertamina  PERTM.UL  plans to
double its fleet of 320 tankers in the next 10 years, the unit's
CEO Yoki Firnandi told the Gastech conference in Houston on
Thursday.
    The expansion, aimed at reducing the average age of the
company's fleet, is set to include investment in vessels to
transport liquefied natural gas (LNG).
    Indonesia is a major producer and exporter of LNG. It
exported some 16 million metric tons last year or about 5% of
the world's total LNG exports.
        
    Pertamina International Shipping
     (PIS) also is trying to use cleaner fuels for its tankers
and follow efficient practices for ship hull cleaning and
propulsion, Firnandi said.
  
        Further reductions in emissions in the shipping industry
are largely expected to come from the use of alternative fuels,
he added.
  
        "There will be a lot of homework to do," Firnandi said
referring to decarbonization in the shipping industry, which
will require collaboration following the 
    IMO 2020 regulation
     that changed the world's standards for maritime fuel.
  
    In 2021, PIS signed an agreement for a strategic partnership
with Japan's shipping company Nippon Yusen Kaisha  9101.T  with
potential collaboration for LNG logistics business.
        Last year, PIS secured a 
    $185 million syndicated loan
     to fund investment in its fleet and infrastructure.
  

    
    

 (Reporting by Marianna Parraga and Georgina McCartney
Editing by Marguerita Choy)
 ((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters
Messaging: @mariannaparraga))