Go Global, Pertamina International Marketing & Distribution Ready to Be The Spearhead of Marketing and Distribution Business in Asia

Jakarta, September 23, 2021 – Two years since officially founded and operating in Singapore, in August 2019, Pertamina International Marketing & Distribution Pte. Ltd. (PIMD) continues to show positive performance. As one of the subsidiaries of PT Pertamina Patra Niaga, Subholding Commercial & Trading of PT Pertamina (Persero), PIMD is mandated to run the cargo and bunker trading business in the Asia Pacific region, as well as being the spearhead of the company to expand its downstream business to regional and international.

Throughout 2020, PIMD continued aggressively and took the opportunity to improve its performance even though the pandemic affected all business lines and the global economy. In the bunker trading business, PIMD's performance was 37% higher (+37%) than the set target, and in the cargo trading business, it was 50% higher (+50%) than the mandated target.

The target achievement is also supported by PIMD's readiness to meet market needs, namely the provision of ships for cargo operations and the trading bunker. It is noted that PIMD operates six (6) additional ships that support PIMD's success for bunker deliveries with a total of 1.34 million Metric Tons (MT) throughout 2020.

PIMD's Managing Director, Agus Witjaksono said that this performance is inseparable from the expansion strategy that is still running to meet the business needs that PIMD is involved in. In addition, Agus continued that PIMD upholds the company's commitments, including the commitment to distribute the best products, commitment to timeliness, commitment to health and safety standards, and finally commitment to rejecting bribery or fraud.

“We have succeeded in all of these initiatives and perseverance by a healthy PIMD profit margin and following benchmarks of similar trading companies in Singapore. Even in November 2020, the average sales of PIMD bunker fuel reached 150 to 200 Kilo Tons (kT) per month. It is equivalent to 2.7% of the total market in Singapore, which is an extraordinary achievement in the PIMD first year of fully operating in the trading business, and we will maintain it in 2021," said Agus.

In 2021, PIMD will continue its positive trend, new initiatives will also be continued to respond to market challenges and responses. In the first semester of 2021, PIMD managed to record the total volume served by the company of up to 3.9 million metric tons (MT), 1.5 million MT from bunker trading, and 2.4 million MT from cargo trading. This year, it is planned that PIMD will also add three (3) ships to support the achievement of the bunker and cargo trading performance.

“This initiative is to support the acceleration and improvement of the PIMD services quality. Besides the addition of ships, we are currently also preparing a supply point and berth area for our fleet on Nipa Island. This location is very strategic because it is on an international shipping lane. Nipa Island is also an anticipation of the continued density rise in Singapore waters, so we have prepared this supply point in Indonesian waters which is geographically very advantageous," added Agus.

In 2021, as its mandate as Pertamina's spearhead in expanding its business in the Asia Pacific Region, PIMD has implemented several program initiatives, such as entering the Philippines and Thailand markets. Currently, PIMD is also selling crude oil in collaboration with Pertamina International Exploration & Production (PIEP) located in Algeria.

“PIMD will continue to innovate, maintain performance, and aggressively take opportunities to achieve the company's vision, namely the leading marketing and distribution company in Asia and beyond. PIMD also actively takes a role in the green energy business, such as Carbon Trading, LNG, Green Hydrogen, and others. It is the company's commitment to Environmental, Social, and Governance (ESG) and Sustainable Development Goals (SDG) regarding clean and affordable energy to support climate action,” explained Agus.*