Pertamina Shipping Posts Record Profit Surge and Fleet Expansion in 2024
Main Takeaways
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JAKARTA, Investortrust.id – PT Pertamina International Shipping (PIS), the integrated marine logistics subholding of Indonesia’s state-owned energy group, has reported a record net profit of US$ 558.6 million in 2024, a 69% increase from the previous year, alongside a historic milestone in fleet expansion.
Revenue rose to US$ 3.48 billion, up 4.48% from US$ 3.33 billion in 2023, driven by business growth, route expansion, and improved non-captive client contributions. PIS now operates 102 vessels, becoming the first Pertamina unit to surpass the 100-ship threshold—marking a new chapter in Indonesia’s maritime logistics capabilities.
PT Pertamina International Shipping was formally established as a subholding under PT Pertamina (Persero) to manage fuel and LPG transportation across Indonesia and abroad. Its 2024 performance cements its role as a backbone of Indonesia’s energy distribution infrastructure.
“This strong financial performance reflects the success of our business transformation strategy. It’s not just a company milestone—it contributes to national energy resilience,” said Corporate Secretary Muhammad Baron on Wednesday, June 25.
Fueling Growth Through Fleet Modernization
In 2024, PIS transported 161 billion liters of fuel and liquefied petroleum gas (LPG) across the country, relying on vessels that meet international standards. The company expanded its capacity by adding 10 new tankers, including four Very Large Gas Carriers (VLGCs): Pertamina Gas Caspia, Pertamina Gas Dahlia, Pertamina Gas Tulip, and Pertamina Gas Bergenia.
Other new additions included the PIS Jawa, Kalimantan, Kerinci, Rinjani, Rokan, and Natuna, reflecting PIS's continued investment in fleet enhancement to meet growing domestic energy demand.
“We are strengthening our fleet and cargo capacity to match Indonesia’s rising energy needs and support the national goal of energy self-sufficiency,” Baron added.
Global Expansion and Revenue Diversification
PIS has significantly increased its international footprint. By the end of 2024, the company operated on 65 global routes, up from just 11 in 2021. This expansion has been supported by overseas branches of its subsidiaries in Singapore and Dubai (under PIS Asia Pacific) and a representative office in London.
As a result, PIS’s non-captive revenue—derived from clients outside the Pertamina Group—jumped from 4% in 2021 to 19% in 2024, reflecting its rising competitiveness in global energy shipping markets.
“This proves that Indonesian ships and seafarers can compete on the global stage,” Baron stated.
