Pertamina International Shipping
Indonesia's Pertamina International Shipping (PIS) is aiming to go public next year to raise funds for its ambitious fleet expansion.
The shipping division of the country's largest energy producer is finalizing plans to list about 10% of its shares on the Indonesian stock exchange in 2025, according to local media.
PIS has been expanding its fleet over the past four years and the IPO is being explored as one of the potential options to support the company's plan to have around 130 tankers by 2025.
The company recently booked 15 MR product tankers for construction in South Korea, a deal estimated to be worth nearly $720 million. PIS also plans to expand its fleet of very large gas carriers (VLCGs) by six vessels this year, two of which were delivered from Hyundai Mipo Dockyard earlier this year.
Comments are closed.