# Pertamina International Shipping (PIS) Secures Collaboration Agreements with Global Partners

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Last modified: 2023-01-07

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By Shayne Heffernan · 2023-01-07
Tags: Stocks, Headline News, Asia, Shayne Heffernan, Shayne Heffernan, Indonesia, Business
Signed: no (published before platform launch).
Nothing in this article is investment advice.

PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners. The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022.

PIS signed a Heads of Agreement (HoA) with BGN International DMCC (BGN), and a Memorandum of Collaboration (MoC) with Elite Tankship Pte Ltd (Elite Tankship).

The HoA with BGN was signed by the CEO of BGN Group, Ruya Bayegan, and the CEO of PIS, Yoki Firnandi. The agreement addresses a Joint Venture (JV) establishment by the two companies for the acquisition, maintenance, and operation of VLGC (Very Large Gas Carriers) vessels and/or other types of vessels.

BGN, headquartered in the UAE, is one of the world's largest LPG (Liquified Petroleum Gas) trading companies and the largest LPG importer in Indonesia. "The VLGC business will support BGN's imports of Pertamina's LPG. At some point, it might endorse the cargo market of ammonia," said Commercial Director of PIS, Arief Sukmara.

The MoC with Elite Tankship addresses Clean Petroleum Products (CPP), Dirty Petroleum Products (DPP), gas, and other commodities needed in the Middle East, and other areas covered by the parties. The MoC was signed by the Elite Tankship CEO Mangish Kakodkar, and PIS Director of Operations and Managing Director Brilian Perdana.

Elite Tankship, headquartered in Singapore, established collaboration with PIS in chartering the VLCC Pertamina Prime, the largest owned vessel and the company's pride, in May 2022 for a six-year contract period.

About PT Pertamina International Shipping (PIS) Pte Ltd

As the Integrated Marine Logistics Subholding, PT Pertamina International Shipping (PIS) supports Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for stakeholders through running its business. [https://pertamina-pis.com/](https://pertamina-pis.com/).

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