Japan’s Nippon Yusen Partners With Indonesia’s Pertamina Tanker Subsidiary
Japan’s shipping firm Nippon Yusen Kaisha (NYK) announced Friday its strategic alliance with a tanker subsidiary of Indonesian state oil giant Pertamina, which will allow Pertamina to expand its fleet in the global market.
In a statement, NYK said that it had concluded an investment and strategic alliance agreement with Pertamina International Shipping (PIS), a Pertamina subsidiary specializing in energy transportation.
PIS CEO Yoki Firnandi said the investment is worth up to $500 million, including NYK’s purchase of a minority stake in PIS, Nikkei Asia reported.
The two companies will work together on projects involving crude oil, petroleum products, transportation of liquefied natural gas (LNG), floating storage and regasification units, and carbon capture and storage….