Selling a Tanker, Defaulting on Debts

The controversial Pertamina tankers in Korea were almost seized. Pertamina's critical finances and its assets are also threatened with confiscation.

Tempo

July 13, 2004

Pertamina is constantly in financial difficulties. It has just tried to reduce the burden by selling two supertankers currently under construction in a Korean dockyard, but this almost fell through because the tankers were almost seized by a creditor who had been pursuing Pertamina around the world. The sale of the tankers itself encountered problems because the House of Representatives' (DPR) Commission VIII considers the sale a mistake and

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