Pertamina Plans to Join Indonesia Stock Exchange in 2025

In an attempt to generate funds for their ambitious fleet expansion project, Indonesia’s Pertamina International Shipping (PIS) is planning to go public next year. 

The shipping department of the nation’s top energy producer is finalising the details to float approximately 10% of its shares on the Indonesia Stock Exchange in 2025, according to local media sources. 

Over the last 4 years, PIS has been expanding its fleet and is being reviewed as an option to back the company’s plan to have 130 tankers by 2025. 

15 MR product tankers have recently been booked for construction by the company. The build will take place in South Korea and is a deal with an estimated worth of $720m. 

PIS also plans to increase their Very Large Gas Carriers fleet by 6 ships this year, 2 of which have already been delivered by Hyundai Mipo Dockyard.