Sub Holding C&T PT Pertamina Establishes a Low Sulfur MFO Bunkering Business

Source: 8/5/2021, Location: Asia

PT Pertamina Patra Niaga, Sub Holding Commercial & Trading PT Pertamina (Persero) signed a Memorandum of Understanding with PT Krakatau Bandar Samudera (Krakatau International Port) concerning Sama Business Bunkering Marine Fuel Oil (MFO) Low Sulfur at Krakatau International Port, Merak.

The signing of this collaboration was carried out by the Central Marketing and Commercial Director of PT Pertamina Patra Niaga, Hasto Wibowo accompanied by the VP Industrial & Marine Fuel Business SH C&T, Waljiyanto and the Chief Executive Officer (CEO) of Krakatau International Port, Akbar Djohan and witnessed by the President Commissioner of PT Pertamina. Patra Niaga, S. Milton Pakpahan and Deputy for Coordination of Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment (Kemenko Marves), Basilio Dias Araujo at the Coordinating Ministry for Marves' Office Wednesday (4/8).

Central Marketing and Commercial Director of PT Pertamina Patra Niaga SH C&T, Hasto Wibowo welcomed this collaboration. Pertamina since 2020 has produced MFO Low Sulfur which complies with IMO Regulations with a maximum sulfur limit of 0.5%.

"With the potential of the Low Sulfur MFO Market in Merak estimated at 54 million USD/year, the spirit of this program must be started immediately, it is hoped that in the next 6-12 months there will be many ocean going ships bunkering in the Sunda Strait," said Hasto.

Hasto continued, this MFO bunkering business cooperation is sure to maximize economic potential through Marine Fuel Bunkering services at various strategic ports in Indonesia. In addition, this synergy will further improve the profile of Indonesian ports as well as strengthen Indonesia's energy posture, especially the provision of 180 centistockes (cSt) Low Sulfur MFO Vessel Fuel.

In line with Hasto, CEO of Krakatau International Port, Akbar Djohan also welcomed this synergy and said that the Bunkering Marine Fuel Oil service at Krakatau International Port is a strategic step to strengthen Indonesia as a maritime axis, especially in Indonesia's strategic waters, especially in the Sunda Strait.

"This collaboration is Krakatau International Port's commitment to provide the best service, especially serving ships crossing the waters of the Sunda Strait who want to refuel," said Akbar.

On the same occasion, the President Commissioner of PT Pertamina Patra Niaga, Milton Pakpahan, appreciated the synergy of the BUMN Sub Holding between PT Pertamina Patra Niaga and PT Krakatau Bandar Samudera. "Despite the pandemic, Pertamina is making fast progress in leveraging and taking the opportunity to maximize the potential of this business. This synergy is a masterpiece, proof that Sub Holding is currently more agile in its movement," said Milton.

Deputy for Coordinating Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs, Basilio Dias Araujo, said that this Memorandum of Understanding is a realization of Indonesia's commitment to create and improve MFO bunkering services at various strategic ports in Indonesia.

It is estimated that the number of ships passing along the Sunda Strait is 53,068 ships or about 150 ships passing per day, while in the Malacca Strait and Singapore Straits around 120,000 ships or up to 350 ships pass per day in the Malacca Strait. Basilio estimates around USD 173 billion of opportunity loss from bunkering services, crew change, and logistics provision for ships passing through the Malacca Strait, Singapore Strait, Sunda Strait, and Lombok Strait.

"We have prepared hot spots for several strategic ports along these straits with this MFO business. We believe that this cooperation can increase state revenues and extraordinary profits, especially for state revenue, public welfare, and most importantly Indonesia is ready and able to provide MFO services in our strategic waters. In the future, ports in Indonesia can provide the best service and be able to compete with other neighboring countries," concluded Basilio.

Regarding all information regarding this collaboration, as well as other Pertamina retail products and services, the public can contact Pertamina Call Center (PCC) 135.*

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