HOUSTON, Sept 19 (Askume) – Indonesian state energy company Pertamina (PERTM.UL) plans to expand its shipping sector to 320 million barrels over the next 10 years, Chief Executive Yoky Fernandi said at the Gastec conference in Houston on Thursday, raising the number of oil tankers in the fleet.
The expansion is aimed at reducing the average age of the company’s fleet and includes investments in vessels transporting liquefied natural gas (LNG).
Indonesia is a major producer and exporter of LNG. It exported nearly 16 million tonnes last year, accounting for about 5% of the world’s total LNG exports.
Fernandi said Pertamina International Shipping (PIS) is also trying to use cleaner fuel for its tankers and follow effective practices for hull cleaning and propulsion.
Further reductions in emissions from shipping are expected to come from the use of alternative fuels, he said.
“There is still a lot of homework to be done,” Ferrandi said of decarbonizing the shipping industry. This will require collaboration in the light of the IMO 2020 rules that will change the world’s marine fuel standards.
In 2021, PIS signed a strategic cooperation agreement with Japanese shipping company Nippon Yusen Kaisha (9101.T) and may cooperate in LNG logistics business.
Last year, PIS secured a $185 million syndicated loan to invest in its fleet and infrastructure .
