Jakarta – PT Pertamina International Shipping (PIS) has once again made headlines by earning a distinguished honor at the Islamic Finance News (IFN) Awards 2024 in Kuala Lumpur, Malaysia. Recognized for its trailblazing efforts in Sharia-compliant financial innovation, PIS was awarded Indonesia Deal of the Year 2024, a testament to its progressive approach in adopting Islamic finance within the maritime industry.
The accolade was granted in recognition of PIS’s successful USD 47 million (IDR 764 billion) Ijarah Muntahiyah Bi Tamlik (IMBT) financing deal with PT Bank Syariah Indonesia Tbk (BSI). This marks a significant milestone as the first-ever use of IMBT financing within the Pertamina Group, establishing PIS as a leader in Islamic financial structuring for the shipping sector. The financing was strategically utilized to procure two Medium Range (MR) tanker vessels, boosting PIS’s fleet capabilities and ensuring greater efficiency in global maritime logistics.
By pioneering IMBT financing, PIS has set a precedent for ethical and Sharia-compliant financial instruments in the industry, reinforcing Indonesia’s role as a major hub for Islamic finance. The company’s vision extends beyond corporate growth, aiming to drive systemic change in maritime funding structures and facilitate broader access to Sharia-based investment solutions.
Diah Kurniawati, Acting President Director of PIS, expressed her pride in this achievement, stating that it reflects PIS’s dedication to financial and operational excellence. “This recognition underscores our unwavering commitment to leveraging Islamic finance for sustainable growth. We deeply appreciate the collaboration with BSI and the invaluable legal guidance from Hadiputranto, Hadinoto & Partners (HHP) for PIS and Soemadipradja & Taher (S&T) for BSI. This successful transaction marks just the beginning of our exploration into new and innovative funding models,” she said.
The IFN Deals of the Year Awards, established in 2006, honor outstanding achievements in Islamic finance across various global markets, including Indonesia, Malaysia, the United Kingdom, and the Middle East. A panel of industry-leading experts meticulously evaluates each nominated transaction, ensuring that the awarded deals represent the highest standards of innovation and financial integrity.
Beyond this success, PIS continues to achieve unprecedented growth, with 2023 marking its most profitable year to date. The company reported USD 3.3 billion in revenue and a historic net profit of USD 330 million, setting the foundation for its long-term expansion strategy. With an ambitious 10-year roadmap targeting USD 9 billion in revenue, PIS is actively exploring alternative financing strategies, including Sharia-compliant mechanisms, to optimize its capital structure and sustain its growth momentum.
“As we expand our presence in the global shipping industry, we remain committed to integrating innovative financing solutions that uphold Islamic principles while ensuring long-term financial stability,” Diah Kurniawati added. “IMBT financing is just the start—we are determined to continue pushing boundaries in financial structuring for maritime investment.”
PIS’s latest accolade cements its position as a leading force in both maritime operations and financial innovation. By embracing Sharia-compliant funding solutions, the company is setting new standards for the industry while ensuring sustainable growth and long-term business resilience.
“PIS is committed to driving innovation in Islamic finance and maritime investment, reinforcing our capital foundation while contributing to the growth of Indonesia’s shipping industry and beyond,” Diah concluded.
