State-Owned Shipping Company Djakarta Lloyd Heading for Bankruptcy
Friday, 25 November, 2011 | 13:03 WIB

TEMPO Interactive, Jakarta:State-owned shipping company PT Djakarta Lloyd (Persero) is dying away. The company has not recorded any revenues since February. The Djakarta Lloyd operations have long since come to a stop due to a string of damaged vessels, while others are awaiting seizures.

Djakarta Lloyd CEO Syahril Japarin said the company currently needs IDR 481 billion of ‘fast cash’. The funds will be allocated for the company’s restructuring and revitalization project — including work on ship repairs. “To repair five units of type PB ships and three units of type Caraka ships,” said the CEO in a written statement on Thursday.

Shayril believes the company could use support from the ministry in order get back to operations. One of the supports is by working together with other enterprises through the administration of shipping order.

EVANA DEWI