Indonesian state energy firm Pertamina is plotting a huge $3bn fleet-renewal and diversification scheme.

The cash will be spent over the next five years to lower the average age of its tankers and LPG vessels, and enter the LNG carrier arena.

Vessel operating unit Pertamina International Shipping operates more than 400 ships, including three VLCCs and two VLGCs.

VesselsValue assesses the fleet to be worth $1.4bn.