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    SHEL   GB00BP6MXD84

SHELL PLC

(SHEL)
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Delayed London Stock Exchange  -  11:35 2022-11-29 am EST
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Aggresive in Global Market Expansion, PIS Meets BP, Shell, and Exxon in Singapore

09/03/2022 | 12:02pm EST

SINGAPORE, Sept 4, 2022 - (ACN Newswire) - - Pertamina International Shipping (PIS) is increasingly targeting consumers in the international market. In addition to this expansion, PIS strives to continuously improve the quality and standard of service by exchanging knowledge and experiences with world energy companies.

PIS, in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte. Limited, Shell International Eastern Trading Co (SIETCO), and ExxonMobil Asia Pacific Pte Ltd. The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.

During the sharing session, PIS discussed vetting, inspection, and vessel acceptance or vessel examination and inspection. The event was attended by PIS Director of Operations Arief Kurnia Risdianto, PIS PL Managing Director Brilian Perdana, Crude and Gas Operation (CGO) Vice President Harris Abdi Sembiring, and PIS Loss Prevention Safety Quality (LPSQ) Manager Soleh Komaruddin.

BP Singapore Pte Ltd Vetting and Clearance Senior Manager, ExxonMobil Asia Pacific Pte Ltd Asia Pacific Supply Coordinator, ExxonMobil Asia Pacific Pte Ltd Mogas Lead, ExxonMobil Asia Pacific Pte Ltd Global Senior Marine Operations, SIETCO Mogas Operation Team Lead, SIETCO Head of Marine, SIETCO Senior Originator, and more were also in attendance at this meeting.

The meeting was also a PIS endeavor to escalate acceptance of its ships at the terminals of world energy participants such as BP, Shell, and Exxon to showcase the existence and quality of PIS in international settings. In the maritime and energy sectors, these companies are significant participants that dominate the tanker chartering market called the Seven Sisters.

PIS Director of Operations, Arief Kurnia Risdianto, explained PIS performance which has now explored 12 international routes. PIS ships have met international shipping standards, including the Paris MOU for sailing requirements on the European continent and a Certificate of Compliance from the United States Coast Guard (USCG).

"PIS is the largest tanker operator in Southeast Asia, currently operating around 439 vessels with extensive experience serving the domestic and regional market," he said.

Experience of PIS in serving the regional market is recorded by many international customers, including Vitol, Petronas, Trafigura, BP, Badak LNG, ExxonMobil, Petrobras, Chevron, Saudi Aramco, Shell, and many more.

As the Integrated Marine Logistics Sub Holding of PT Pertamina (Persero), PIS business includes shipping, marine services, port services, port and jetty management (port ownership), storage tanks, and other related services.

PIS owns two VLCCs, namely, Pertamina Pride and Pertamina Prime, with a capacity of 2 million barrels and incurs the Eco-Green Vessel concept. The two VLCCs are tangible manifestations of PIS endeavor to lead the marine and logistics business in both domestic and international markets.

Besides oil and gas, PIS expands its business potential to various segments and cargo types, including petrochemicals with medium-range chemical-specific vessel assets called PIS Precious.

In the meantime, to comply with regional trading and improve its role in the global market, Tanjung Uban offers an integrated terminal managed by the PIS subsidiary.

PIS CEO Erry Widiastono said that the company has prepared a roadmap to support energy transition programs. "PIS will anticipate the future of vessels business, specifically the greener vessels. For example, vessels responsible for gas shipping such as LPG, LNG, and many others. In the future, we will anticipate the progress of the renewable energy sector," said Erry.

About Pertamina International Shipping (PIS)

As the Integrated Marine Logistics Sub Holding, PT Pertamina International Shipping (PIS) consistently stimulates Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for the stakeholders in running their business.

Media Contact:

M Aryomekka Firdaus

Corporate Secretary

M: 0811-872-272

E: aryomekka@pertamina.com

Copyright 2022 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 1.76% 492.05 Delayed Quote.46.31%
EXXON MOBIL CORPORATION 0.66% 110.54 Delayed Quote.85.01%
SHELL PLC 1.69% 2400.5 Delayed Quote.45.55%
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Financials (USD)
Sales 2022 393 B - -
Net income 2022 40 890 M - -
Net Debt 2022 42 798 M - -
P/E ratio 2022 5,24x
Yield 2022 3,62%
Capitalization 204 B 203 B -
EV / Sales 2022 0,63x
EV / Sales 2023 0,63x
Nbr of Employees 82 000
Free-Float 99,9%
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Number of Analysts 19
Last Close Price 28,39 $
Average target price 34,55 $
Spread / Average Target 21,7%
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Managers and Directors
Bernardus Cornelis Adriana Margriet van Beurden Vice President-Manufacturing Excellence
Sinead Gorman Chief Financial Officer & Director
Andrew Stewart Mackenzie Chairman
Harry Brekelmans Director-Technology & Projects
Yiu Kiang Goh Deputy Chairman
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