PT Pertamina International Shipping (PIS), through its branch office in Dubai, PIS Middle East (PIS ME), has achieved another success by simultaneously signing four business cooperation agreements with global players.
PIS Pte Ltd (DMCC Branch) – PIS Middle East has signed business cooperation agreements with global players, namely with Gas Walio, Gas Widuri, Gas Arjuna and Gas Ambalat, for 4 vessels owned by PIS.
Erwin Paulian Sihombing, Commercial, PIS Pte Ltd (DMCC Branch) – PIS ME; Ugo Romano, Managing Director, Scorpio MENA DMCC (Neptune Pool); Andra Otmansyah Pelawi, Country Manager & Middle East Representative, PIS Pte Ltd (DMCC Branch) – PIS ME [L-R]
PIS ME signed the deals for 4 vessels owned by PIS – namely the Gas Walio vessel, Gas Widuri vessel, Gas Arjuna and Gas Ambalat vessels. The Gas Arjuna and Ambalat vessels are chartered by SHV Gas Supply & Risk Management, the Gas Walio vessel is chartered by Geogas Trading S.A, and the Gas Widuri vessel is chartered by Vitol S.A.
“The signing of this cooperation signifies the success of PIS ME’s aggressiveness in increasing revenue in the international market, as well as proving the reliability of PIS’s fleet which is qualified to sail in global scale waters,” said PIS CEO Yoki Firnandi at the signing ceremony on Tuesday, July 25.
The total transaction value for the four ship deal reached US$49.34 million, or the equivalent to Rp740.15 billion (dollar exchange rate of Rp15,000) with different contract durations ranging from 6 months to 3 years. The contracts also provided for new international routes and countries for the PIS fleet, including Chile (South America), Puerto Rico (USA), Dominican Republic (Caribbean), Tanzania, Poland, and Portugal.
Country Manager of PIS ME Andra Pelawi added that in addition to the successful commercialization of the four vessels, PIS ME has broken new business ground which will add to the company’s revenue potential. “Pertamina has, through PIS ME, entered Tankers International Pool, and a TC Syndication scheme with Scorpio for a Neptune VLGC vessel in the pool. PIS will have the potential for vessel rental at international market rates,” he said.
Through this breakthrough scheme by PIS, carried out initially during the second quarter of 2023 (since the VLGC vessel entered the pool in early May, through to the end of the quarter), PIS ME managed to realize a profit of around US$865 thousand, or the equivalent to Rp12.97 billion (dollar exchange rate of Rp15,000).
About PT Pertamina International Shipping (PIS) Pte Ltd
PT Pertamina International Shipping (PIS) as an Integrated Marine Logistics Subholding, has a total of 750 ships. Besides the owned ships, PIS also manages time charter and spot charter that can be rented through e-chartering. PIS ME is the second representative branch office of PIS located abroad, being established December 23, 2022. See https://pertamina-pis.com/.
Baguio Green Group Limited (“Baguio” or the “Company”, Stock Code: 01397.HK) is pleased to announce that it has been awarded two 3-year service contracts, worth approximately HK$482 million in total, by the Food and Environment Hygiene Department (“FEHD”) of the HKSAR Government for street cleansing services in Mong Kok district and pest control services in Wong Tai Sin district commencing 1 October 2022. The new contracts drive Baguio’s total Contracts on Hand to a historical high level of approximately HK$3.8 billion (as of 30 Sep 2022).
Winning this new FEHD street cleansing contract highlights Baguio’s position as a leading player in the Hong Kong cleaning market. The Company now provides FEHD street cleansing services in a total of eight Hong Kong districts, which have a total population of approximately 2.8 million. The newly won pest control services contract extends the Group’s pest control services to four districts in Hong Kong, which have a total population over 1.2 million. These contracts not only provide solid business growth for the Group’s core business over the next three years, but they also further strengthen Baguio’s leading position in Hong Kong.
With the HKSAR government’s high emphasis on environmental hygiene, a three-month citywide clean-up campaign was launched in August 2022 with a District Matters Co-ordination Task Force set up to address and tackle district-based issues such as hygiene blackspots, street obstruction blackspots, environmental problems and cityscape improvement. As one of Hong Kong’s largest integrated environmental services groups, Baguio has the capacity to provide the highest environmental hygiene standards for the HKSAR Government to create a clean and sustainable environment.
Ms. Ng Yuk Kwan Phyllis, CEO of Baguio, said, “Baguio is honoured to be awarded the new FEHD service contracts for street cleansing and pest control services. These contracts reflect the Government’s recognition of the Group’s high professional service standards. They also provide a solid foundation for the Group’s business growth over the next three years. Under these new contracts, Baguio will utilise innovative smart technologies, including high-tech disinfection and pest control facilities as well as automated intelligent cleaning technologies. Looking ahead, the Group is proud to contribute to improving environmental hygiene in Hong Kong and making Hong Kong a leaner, greener and more sustainable city.”
About Baguio Green Group
Established in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong’s largest and most respected integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city.
Honda Racing Corporation (HRC) announced that it has renewed its contract with Tim Gajser (25 years old, Slovenia), who currently competes in the FIM(1) Motocross World Championship premier MXGP class (450cc class) for Team HRC, Honda’s factory team(2), and newly signed a contract with Rubén Fernández (23 years old, Spain). Both riders are signed on for multiple years starting in 2023.
Tim Gajser (left), Rubén Fernández (right) and CRF450R
After winning the Motocross World Championship title in the MX2 class (250cc) in 2015, Tim Gajser moved to the premier MXGP class the following year, and won the championship along with the Rookie of the Year title. Although he did not win the title for the following two years, Gajser won back-to-back championships in 2019 and 2020, and by claiming his fourth MXGP title this year, has won a total of five titles in the Motocross world championship.
Rubén Fernández was third overall in the European Motocross Championship EMX250 class. Although he moved to MX2 in 2018, he moved back to EMX250 the following year. After moving full-time to MX2 in 2020, he finished ninth that year. In 2021, Fernández joined the MX2 team Honda 114 Motorsports, but from Round 17 moved to the premier MXGP class. This year, Fernández continued his full-time career in the MXGP class, ending up eighth in the championship, with two third-place finishes.
– Tim Gajser “It was an easy decision to continue this amazing relationship with Team HRC. It is like a second-family to me and there is no other place where I feel it is such a nice environment. I always say “Happy Rider, Fast Rider” and working with everyone in Team HRC, from all the technicians in Japan, to my practice mechanic, to my physio, it is all so enjoyable and I always look forward to going racing. I have won five World Championships with Honda so I am extremely comfortable on-board the CRF450R and they always do such a great job with developing and improving the machine, so I know I’ll be riding a bike capable of winning title number six in 2023. A huge thank you to all my supporters around the world, and I look forward to meeting you at Team HRC next year.”
– Rubén Fernández “It is a dream come true to be riding for Team HRC in the MXGP class. The team is the best in the paddock and having ridden the Honda for the past couple of years, I am very familiar with the bike, but now I’m very excited to get to ride the full factory machine next year. I am also excited to work alongside Tim, as I know I can learn a lot from a rider who is five-times champion of the world. I’d like to thank everyone who has supported me throughout my career, who got me to this point and I can’t wait to show everyone what I am capable of. I now have the winter to prepare myself, and make sure I’m ready for the first gate-drop in 2023.”
– Koji Watanabe, Head of Corporate Communications Supervisory Unit, Honda Motor Co., Ltd. and President of Honda Racing Corporation “We are all very happy to have Tim signing again with Honda. He is an important figure for our company, and the perfect ambassador on and off the track. His achievement of winning five world titles is incredible and we hope that he can achieve even more goals riding on Hondas in the future. It is also exciting to have a new young rider Rubén Fernández joining the team. He has done well the past couple of years and this is the perfect time for him to make the switch to Team HRC. He has already had success on Honda, and now we hope we can build upon that in the coming years. I wish both riders the best of luck.”
(1) FIM: Fédération Internationale de Motocyclisme (2) Factory team: Racing team operated by manufacturer. In Honda’s case, HRC-operated team.
Due to popular demand, Infocus International Group is bringing back the Engineering, Procurement and Construction (EPC) Contracts for Energy Industry online masterclass and it will be commencing live on 23 September 2021. Throughout the five sessions, participants will learn a comprehensive analysis of EPC contracts and of the key considerations in projects and disputes where such contracts are used. This course provides an in-depth analysis of EPC contracts, their interface with other project documents and their role in the project lifecycle. It discusses key risk allocation issues, and the structuring of the contract in a project financing context. Participants will be introduced to the key terms and negotiation issues in EPC arrangements, the role and incorporation of technical details, and the impact of project specifications in EPC arrangements.
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