Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Indonesian Pertamina's shipping unit plans up to $3 B investment for vessels

(Reuters) - Pertamina International Shipping, a unit of Indonesia's state energy firm, aims to invest up to $3 B over the next five years to rejuvenate and expand its fleet, including investing in vessels to transport liquefied natural gas, an executive said.

Pertamina International Shipping (PIS) operates more than 400 vessels, including three very large crude carriers (VLCC) and two very large gas carriers (VLGC).

"We will invest big in replacing vessels," Wisnu Santoso, a director at PIS told reporters on Tuesday. "We want to reduce the average age of our fleet within the next five years to 15 years from currently at around 20 years."

The company is also planning to acquire vessels for LNG transportation, which it currently does not have in its portfolio, as demand for the fossil fuel, which is considered less polluting than others, is expected to increase.

He acknowledged that shipping yards are at full capacity now and building new vessels could be expensive due to high demand, but the company is open to purchasing existing vessels as long as they still have good economic value.

PIS in October signed an initial agreement for strategic partnership with Japan's shipping company Nippon Yusen Kaisha (NYK) with potential collaboration for LNG logistics business on domestic or international routes, the company said last month.

Wisnu declined to share details of the partnership that were currently being finalized.

(Reporting by Fransiska Nangoy; Editing by Kanupriya Kapoor)


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Lee Nichols
Modern society would not be possible without the use of pipelines to transport natural gas, crude oil and finished products to demand centers.


Optimizing Gas Distribution: Accounting for Changeovers, Regulators, and More

Register Now

Gas distribution systems are critical to the effective operation of many industrial facilities around the world. Despite the importance of these systems, however, opportunities to improve their performance and cost-effectiveness are often missed or misunderstood. Increasing changeover pressure may seem like a good way to improve system flow, for example, but it often does so at the expense of bottled gas. Adding regulators may help you control supply pressure, but it also adds cost to your system. So, how do you know what the ideal gas distribution setup is for you?

Attend this webinar to:

  • Gain a basic understanding of the fluid dynamics that affect pressure control in gas distribution systems, learning to interpret flow curves and recognize phenomena like lockup, droop, and supply pressure effect (SPE)
  • Learn how inlet pressure affects regulator performance and when to specify certain regulator types and configurations to effectively control gas system pressures

Understand the inherent trade-offs between gas utilization and flow capacity and how to select both the right changeover pressure and automatic changeover panel design for your operations.

May 4, 2021 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2022 Gulf Publishing Holdings LLC.