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Pertamina plans $3bn fleet spend

Pertamina International Shipping, Indonesia’s largest shipping line, is lining up a $3bn fleet rejuvenation and expansion over the coming five years.

The subsidiary of the nation’s state energy firm will also invest in LNG tonnage for the first time, senior executives revealed at a press briefing in Jakarta.

“We will invest big in replacing vessels,” Wisnu Santoso, a director at PIS told reporters on Tuesday. “We want to reduce the average age of our fleet within the next five years to 15 years from currently at around 20 years.”

PIS in October signed an initial agreement for strategic partnership with Japan’s Nippon Yusen Kaisha (NYK).


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