Fate of Pertamina oil tankers purchase plan still unclear

The plan to build 12 oil tankers for state-owned oil and gas firm Pertamina remains uncertain as the company has yet to decide on the financing mechanism, the Kompas daily reported on Wednesday.

The paper said that Pertamina and the government were still undecided whether to finance the ship purchase through bank loans or bonds. Partly because of this problem, President Megawati has not yet issue the necessary decree for the project.

?Frankly speaking, no one really knows about the fate of the project. But there seems to be progress as PAL and other shipyard companies have been summoned (by Pertamina) to make clarification,? said development director of state-owned shipbuilder PT PAL Indonesia, Kusimawati Roekminto. She did not elaborate.

A number of shipyard companies have won a tender to build 12 oil tankers for Pertamina. Two tankers will have a deadweight capacity of 300,000 tons; three units each with capacity of 30,000 tons; two units each with capacity of 17,500 tons; three units each with capacity of 6,500 tons; and two each with capacity of 3,500 tons.

Six of the tankers would be built overseas, while the remainders would be constructed here in the country. PAL has won an order to construct one unit with capacity of 300,000 tons. (amoros)