Successful Transformation & Strong Global Expansion, PIS Obtains USD 127.51 Million Profit in 2021

Jakarta, April 8, 2022 - PT Pertamina International Shipping (PIS) Subholding Integrated Marine Logistics has successfully recorded a significant increase in revenue and profit for performance throughout 2021.

PIS' profit was recorded at USD 127.51 million for the 2021 performance. It is an increase of 52.33% compared to the 2020 performance, where the company's profit reached USD 83.71 million.

This increase in profit cannot be separated from the revenue increase, which reached USD 1.73 billion in 2021. Not only a significant increase compared to 2020 revenue which was USD 837.06. Revenue in 2021 even surpassed the USD 1.70 billion initially targeted by the company.

“This increase in performance is in line with the growth of PIS' business and the increase in fixed assets after the restructuring and the appointment of PIS as Sub Holding Integrated Marine and Logistics. We hope that PIS' performance can continue to improve and synergize so that all functions can develop together sustainably," said Corporate Secretary of PIS, Robert MV Dumatubun.

Throughout 2021, ships that belong to PT Pertamina International Shipping (PIS) are increasingly in demand by world-class energy players.

It is recorded that 26 of the 95 ships belonging to PIS have served non-Pertamina international shipping cargo since 2021. These Indonesian-flagged ships carry crude oil, white oil, and gas cargo.

Dozens of vessels owned by PIS are chartered by world-class energy players such as Shell, Geogas, Karpowership, Petco (a subsidiary of Petronas), Trafigura, to Aramco Trading.

"This cargo expansion is a manifestation of PIS' commitment to becoming a leading shipping company in Asia by reaching all possible new business potentials that can be achieved while still prioritizing the reliability of ship operations to continue to provide the best service for customers," said Robert.**