Pt Pelayaran Nasional Indonesia News

Indonesian shipping company PT Trada Maritime Tbk is at risk of defaulting on its debt of around $31 million to the International Finance Corp (IFC), the private sector lending arm of the World Bank. Trada Maritime received a letter dated May 28 from the IFC requiring it to pay a principal amount of $30.57 million as well as interest and other costs of $774,360 within three working days, the company said in a stock exchange filing on Thursday. Trada Maritime also owes $15 million to Bank of Tokyo-Mitsubishi UFJ Ltd. The company had discussed ways to pay off its debt to its creditors and they will have another meeting on June 17, it said.