Jakarta – PT Pertamina International Shipping (PIS) has reached another significant milestone on the international stage, securing the prestigious Indonesia Deal of the Year 2024 award at the Islamic Finance News (IFN) Awards in Kuala Lumpur, Malaysia. This recognition highlights PIS’s pioneering role in integrating Sharia-compliant financial models into the maritime industry, reinforcing Indonesia’s position in the global Islamic finance sector.
The award was granted in acknowledgment of PIS’s successful acquisition of Ijarah Muntahiyah Bi Tamlik (IMBT) financing worth USD 47 million (approximately IDR 764 billion) from PT Bank Syariah Indonesia Tbk (BSI). This transaction represents a major breakthrough, as it is the first time the IMBT financing structure has been applied within the Pertamina Group. The funds obtained through this innovative model have been allocated to purchasing two Medium Range (MR) tanker vessels, strengthening PIS’s fleet expansion strategy and ensuring enhanced operational capacity in global shipping markets.
The successful implementation of IMBT financing marks a significant step toward diversifying capital sources in Indonesia’s maritime sector. PIS’s innovative approach aligns with the broader objective of promoting Sharia-based financing solutions that adhere to Islamic economic principles, enabling businesses to access ethical funding alternatives while contributing to the development of the global Islamic finance ecosystem.
Diah Kurniawati, Acting President Director of PIS, emphasized the importance of this achievement, noting that it underscores PIS’s commitment to financial innovation in the shipping industry. “Receiving this award is an international validation of our efforts to incorporate Sharia-based financial solutions into our long-term business strategy. With strong collaboration from BSI and support from our legal advisors, Hadiputranto, Hadinoto & Partners (HHP) for PIS and Soemadipradja & Taher (S&T) for BSI, we believe this financing model will open new doors for the maritime sector to access sustainable and ethical funding,” she stated.
The IFN Deals of the Year Awards, established in 2006, are widely recognized as one of the most prestigious honors in Islamic finance, celebrating outstanding financial transactions and groundbreaking deals across multiple regions, including Indonesia, Malaysia, Singapore, the United Kingdom, the United Arab Emirates, Saudi Arabia, and Africa. The selection process is conducted by a panel of independent financial experts, ensuring an objective evaluation of the most impactful financial deals worldwide.
Beyond this accolade, PIS has been experiencing remarkable financial success, with the company reporting USD 3.3 billion in revenue in 2023 and achieving a record-breaking net profit of USD 330 million. These results represent the highest financial performance in PIS’s history, reflecting the company’s strategic business expansion and commitment to long-term growth. As part of its ambitious 10-year development plan, PIS aims to triple its revenue to USD 9 billion, relying on innovative financing mechanisms, including Sharia-compliant solutions such as IMBT.
“To achieve this vision, we are continuously refining our capital structure and seeking financial models that align with our sustainable growth strategy,” Diah Kurniawati added. “IMBT financing is just one of many innovative approaches we are exploring to ensure financial resilience and drive long-term business success.”
This international recognition further solidifies PIS’s reputation as a world-class shipping company, excelling not only in operational efficiency and service excellence but also in financial strategy and investment innovation. The company remains committed to leveraging cutting-edge financial solutions to reinforce its capital strength, support the maritime sector’s development, and drive sustainable economic progress in Indonesia and beyond.
“PIS will continue to push boundaries in financial innovation, ensuring a robust capital framework that will sustain our expansion and contribute to the advancement of the global shipping industry,” Diah concluded.
