Troubled Indonesian shipowner PT Meranti Bahari lose control fleet

Troubled PT Meranti Bahari is losing control of handy size bulk carrier 27K DWT M/V Kenanga will be sold at public auction in Cape Town. M/V Kenanga was arrested in January 2016by STX Marine Services Co for outstanding shipmanagement fees. Troubled PT Meranti Bahari operates 3 handysize and 3 panamax bulkers, and many ships under arrest while PT Meranti Bahari sought cash to settle debtor claims and crew wages. In December 2015, PT Meranti Bahari began filed for bankruptcy protection to survive. the Jakarta Central Court in January this year. PT Meranti Bahari was granted protection in Indonesia which is similar to a Chapter 11 filing in the US. Troubled PT Meranti Bahari’s another panamax bulk carrier 1995 built M/V 75K DWT M/V Kayu Ramin is under arrest in Dubai. Troubled PT Meranti Bahari’s fleet 69K DWT M/V Kayu Putih and 27K DWT M/V Mahoni have been idle in China, waiting enough money to undergo surveys and drydocking.