PT Pertamina International Shipping (PIS) has reported $3.48 billion in revenue for 2024, up 4.4 percent from 2023. Profit grew 69.3 percent from $329.9 million in 2023 to $558.6 million in 2024.
“This strong financial performance proves that the business transformation we have carried out is on the right path and affirms PIS’s position as one of Asia’s reputable maritime logistics companies. This business growth not only marks corporate advancement but also increases our contribution to national energy security”, PIS Corporate Secretary Muhammad Baron said.
Throughout 2024, PIS transported 161 billion liters (42.5 billion gallons) of energy. It added 10 new tankers, including four VLGCs: Pertamina Gas Caspia, Dahlia, Tulip, Bergenia, PIS Jawa, Kalimantan, Kerinci, Rinjani, Rokan and Natuna. It had 102 vessels by year-end, the company said.
“PIS continues to strengthen its fleet and increase domestic cargo transportation capacity in line with growing national energy demand. PIS is targeting higher transport capacity to ensure energy availability and support Asta Cita’s national energy independence agenda”, Baron added.
By 2024, PIS vessels operated 65 international routes, up from 11 in 2021. To meet rising global demand, PIS opened three international offices in Singapore, Dubai, and London through its subsidiary PIS Asia Pacific, increasing non-captive revenue from 4 percent in 2021 to 19 percent in 2024, the company said.
“We are grateful that PIS’s achievements, driven by increasingly efficient business transformation, have had a positive impact on the development of the national maritime industry. This is part of PIS’s commitment to revitalize various domestic industries and drive Indonesia’s economy sustainably”, Baron said.
To contact the author, email andreson.n.paul@gmail.com
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