IFC wants its money

Indonesian shipping company Trada Maritime is facing a demand from the World Bank for repayment of $31m.
Trada: cash demand

Trada: cash demand

The bank's private sector unit International Finance Corp (IFC) wrote to the tanker owner at the end of May asking for the loan back within three days.

It wants a principal amount of $30.57m, plus interest and other costs of $774,360, Trada said in a stock exchange statement.

The company also owes $15m to Bank of Tokyo-Mitsubishi UFJ.

A meeting with creditors is set for 17 June.

Trada has a fleet of 20 ships, including tankers, FSOs, an LNG carrier, a bulker and tugs.