Pertamina to set up Pertamina Shipping as unit
Tuesday, November 6 2012 - 11:48 AM WIB
Following a decision to spin off its lubricant division, state owned oil and gas firm PT Pertamina announced also it would separate its shipping business unit into a limited company to enable it to focus more on the lucrative shipping industry.
The new firm will in particular focus on developing the gas transport lines (LPG and LNG), FSO/FPSO, and oil transport especially with tankers of medium to large capacity.
?The implementation of Cabotage regulation, that basically allows only Indonesia-flagged ships to operate in Indonesian waters, provides enormous opportunities for domestic shipping companies,? it said in a statement.
At present, Pertamina owns 37 of the total 130 tankers it operates, from Bulk Lighter to the Very Large Crude Carriers (VLCC).
Editing by Dadan Wijaksana