The delivery of Japanese-built VLCC Pertamina Pride triggers memories of the Indonesian oil company’s heyday in the 1970s, but this time with the emphasis on corporate governance
In a ceremony on board the 301,800-dwt VLCC, Pertamina Pride was handed over by Indonesian state oil company Pertamina to Pertamina International Shipping (PIS), which had been appointed to commercially manage the vessel. The technical manager is NYK Shipmanagement.
Speaking at the ceremony in Indonesia to welcome Pertamina Pride, Indonesia’s minister for state-owned enterprises Erick Thohir said it had become a necessity for state-owned enterprises to contribute to Indonesia’s energy security, with its wealth of natural resources, and expressed appreciation for Pertamina’s efforts in transforming and presenting value creation.
The government fully supports PIS’s efforts in becoming an integrated shipping and logistics company and a world player. He said, “"Pertamina must think of its heyday in the 1970s, become a global player and be ready to compete based on good corporate governance."
Pertamina Pride is destined to be a key link in Indonesia’s supply chain, securing the supply of crude oil to Pertamina’s Cilacap refinery from Aramco’s crude oil loading terminal at Ras Tanura.
In a statement, Pertamina International Shipping said it was driven to become a leading integrated logistics company in Asia, centred on petroleum and new growth industries, integrated logistics and services, and green-energy business.
It has a roadmap strategy in three phases: the integration of PIS with other Pertamina subsidiaries, becoming an integrated logistics company in Indonesia, and becoming a sustainable and leading energy transportation company in the region.
Pertamina president director Nicke Widyawati said investment in the new vessels Pertamina Pride and soon to be delivered Pertamina Prime, was in line with shareholder directives to ’go global’.
As a shipping company, Ms Widyawati said PIS was transforming into a globally integrated logistics solutions provider as it had the ships, facilities and storage at the port. "Thus, the value chain managed by PIS will also get larger," she said.
"We see a significant increase in energy consumption in Indonesia, but we are optimistic we can continue to meet energy needs for the country. The presence of Pertamina Pride in Indonesian waters shows our determination to be a leading shipping company, regionally and internationally,’" said PIS president director Erry Widiastono.
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