Former PIS CEO Claims Pertamina Suffers Major Losses Due to Interference in Ship Leasing

Former Director of PT Pertamina International Shipping (PIS), Yoki Firnandi, has revealed that PT Pertamina is currently suffering major losses due to the ship leasing from PT Jenggala Maritim Nusantara (JMN), owned by Kerry Adrianto Riza, being deemed corrupt and detrimental to state finances. Yoki made this statement after testifying in the trial regarding alleged corruption in the management of oil and refinery products at PT Pertamina at the Jakarta Corruption Court on Tuesday (31/3).

Yoki questioned who is truly responsible for the state’s losses. He assessed that the business decision taken by PIS in leasing the ship from PT JMN was previously appropriate and beneficial to the company. Conversely, Yoki stated that the legal process related to the ship leasing has instead caused Pertamina major losses.

“So, who has harmed the state? Was it our previous decision? Or has Pertamina been harmed because of this case?” he said.

Yoki explained that one tangible impact of handling this case is that PT PIS had to release the JMN ship, which was previously leased at a relatively low price. As a result, Pertamina now has to pay nine times the previous lease price.

“Because of this case, PIS finally released that ship. And the legal advisor showed earlier that now Pertamina has to pay nine times more, up to around US$350,000,” he said.

Yoki explained that PT Pertamina previously leased a Suezmax-type ship from PT JMN for around US$37,000. According to him, that decision was a correct business step, and no indications of overpricing were found by the Financial Audit Board (BPK). However, due to the case, PT Pertamina now has to pay around US$350,000.

“Because at that time we leased the JMN ship owned by Mr Kerry for US$37,000, the Suezmax. Because of this case, PIS finally released that ship. And the legal advisor showed earlier that now Pertamina has to pay nine times more, up to around US$350,000. So, what I conveyed earlier is that this business decision, the BPK itself did not say there was overpricing, and it turns out now because it was terminated, Pertamina is actually spending more money,” he clarified.

For this reason, Yoki regrets that the ship leasing, which was actually beneficial to Pertamina, was questioned by the Attorney General’s Office (Kejagung) and even accused of harming state finances. Yoki emphasised that PIS’s decision to lease the ship from PT JMN underwent thorough consideration and proved efficient.

“So, who has harmed the state? Was it our previous decision? Or has Pertamina been harmed because of this case? That’s what we regret. It shouldn’t be interfered with,” he stressed.