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Indonesia’s Pertamina Worldwide Transport (PIS) has set its sights on going public subsequent yr to generate funds for its bold fleet enlargement.
The transport arm of the nation’s high vitality producer is finalising plans to drift about 10% of its shares on the Indonesia Inventory Alternate in 2025, in response to native media.
PIS has been increasing its fleet over the past 4 years and an IPO is being explored as one of many potential choices to again the corporate’s plan to have round 130 tankers by 2025.
The corporate not too long ago booked 15 MR product tankers for development in South Korea in a deal estimated to be value practically $720m. PIS additionally plans to spice up its fleet of very massive fuel carriers (VLCGs) by six ships this yr, two of which have been delivered by Hyundai Mipo Dockyard earlier this yr.
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