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OOLP Maritime World News > Shipping news > Indonesia’s Pertamina shipping unit secures $185 mln syndicated loan
Shipping news

Indonesia’s Pertamina shipping unit secures $185 mln syndicated loan

Last updated: 2023/02/19 at 3:50 PM
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Pertamina International Shipping (PIS), a unit of Indonesia’s state energy firm, has secured a $185 million syndicated loan to fund investment in its fleet and infrastructure, the company said.

The loan would be used to expand its fleet and upgrade a liquefied petroleum gas (LPG) terminal and is expected to boost the company’s revenue and profit this year, PIS director of finance Diah Kurniawati said in a statement.

The lenders include Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Financial Group Inc., Mizuho Bank Ltd, BTPN and Indonesian state banks, Bank Mandiri and BNI, the company said.

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PIS has announced the addition of two small LPG carriers with a capacity of 3,500 cubic metres each this year, which could be use to transport LPG, chemical cargoand ammonia for domestic and overseas markets.
Source: Reuters (Reporting by Bernadette Christina Munthe; Editing by Ed Davies)



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