Pertamina International Shipping pens two collaboration agreements
Pertamina International Shipping (PIS), a unit of Indonesian state-owned energy company Pertamina, has secured two collaboration agreements with global partners, the company said on January 7.
PIS signed a heads of agreement (HoA) with Dubai-based BGN International (BGN) and a memorandum of collaboration (MoC) with Singapore’s Elite Tankship.
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According to the HoA inked with BGN, the parties will establish a joint venture for the acquisition, maintenance, and operation of very large gas carriers (VLGs) and/or other types of vessels.
BGN is one of the world's largest LPG trading companies and the largest LPG importer in Indonesia.
"The VLGC business will support BGN's imports of Pertamina's LPG. At some point, it might endorse the cargo market of ammonia," said the commercial director of PIS, Arief Sukmara.
The MoC with Elite Tankship addresses clean petroleum products, dirty petroleum products, gas, and other commodities needed in the Middle East.