economy

PIS Signs Strategic Business Agreement By Partnering With Japanese Ship Giant NYK

PT Pertamina International Shipping (PIS) is showing more commitment to becoming a world-class maritime logistics company by signing a memorandum of understanding (MoU) for a strategic business agreement with Nippon Yushen Kabushiki Kaisha Group (NYK).

NYK is known as a leading shipping company in Japan and the world, as well as a strategic partner of PIS since the end of 2022. This strategic partnership includes plans for business agreements covering the transportation of liquefied carbon dioxide and liquefied natural gas (LNG), as well as ship management.

This strategic partnership is a real commitment to supporting Indonesia's national agenda as a leader in carbon storage (Carbon Capture and Storage or CCS) and emission reduction. The MoU signing took place at Pertamina's headquarters and was attended by the President Director of PT Pertamina (Persero) Nicke Widyawati, PIS CEO Yoki Firnandi, and NYK Managing Executive Officer Hironobu Watanabe.

"I am proud to witness the signing moment as a follow-up to the strategic partnership between PIS and NYK that has been ongoing since December 2022. This is the beginning of a journey, and most importantly, how we can accelerate business implementation to become a new revenue stream for PIS," said Nicke.

PIS CEO Yoki Firnandi emphasized the importance of collaboration and PIS's readiness to play a crucial role in CCS transportation with NYK, "This MoU with NYK drives the initiative to unlock PIS's value to grow beyond Indonesia through long-term partnerships and close relationships with our shareholders.

This MoU also symbolizes PIS's readiness to become a leader in CCS transportation and logistics aggregation in the region. We hope this partnership will drive the transfer of NYK's technology and expertise in carbon emission reduction."

MPIS will focus on the transportation chain in the CCS process that requires specific ships and carbon storage facilities. In addition to supporting the government, this collaboration is also in line with the Pertamina Group's commitment to achieve Net Zero Emissions by 2060 through CCS technology and various other emission reduction initiatives across the company and its subsidiaries.

Managing Executive Officer NYK Hironobu Watanabe explained that the collaboration with PIS is very important for NYK, considering that PIS is a key player in the Indonesian shipping industry.

"We have often discussed collaboration plans, and now is the time to turn the agreement on paper into actual business," said Watanabe.

Through this agreement, NYK and PIS will collaborate and explore business opportunities and feasibility studies for transportation and storage of liquid CO2 to and from Indonesia. In terms of LNG business, both parties have agreed to collaborate in LNG Carrier ownership.

Meanwhile, for ship management business, NYK and PIS will establish a joint venture, where NYK will provide training to enhance the capacity of sailors to compete globally.

"The collaboration between NYK and PIS sets a new standard in the maritime industry in the global effort to reduce carbon emissions and promote sustainable development. As the world moves towards a greener future, the partnership between PIS and NYK serves as an example of the important role of innovation and cooperation in achieving sustainable environmental goals," Yoki concluded.

Tag: PIS PT Pertamina International Shipping