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Indonesia: Pertamina Makes Major Tanker Buy (17/12/2012)

State-owned oil and gas firm has moved to buy approximately 92 tankers to improve efficiency. The transaction will give Pertamina ownership of half the ships that it currently operates.
"The investments have been been calculated; they will be in the hundreds of millions of dollars," revealed Subagjo H Noeijanto, Pertamina's Vice President of Shipping and Commercial Development. The company, he said, does not want to own 100% of its operational fleet as it does not want to over-extend itself financially.
However, Pertamina is also planning to purchase 10 new smaller-capacity ships. "Basically, our priority is to purchase ships that are made in Indonesia," said Noeijanto.

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