Pertamina in Major Shipping Expansion

State owned energy conglomerate Pertamina is launching a major investment program which will give further stimulus to Indonesia’s shipping industry. The company intends to offer guaranteed 12 year charters to local companies building 12 new tankers. Tow of the vessels are around 35,000 dwt, while the remainder are all smaller ships of less than 20,000 dwt each. Pertamina currently operates a fleet of more than 160 vessels, of which around 65 are owned by the company. The Indonesian company has also awarded seven oil and gas exploration and production contracts to companies in the UK, the Netherlands, Japan and the US.

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