Over a decade ago, PT Arpeni Pratama Ocean Line Tbk (APOL) owned almost 80 vessels for various types of services: dry bulk, liquid cargo, general cargo, and others. But within a couple of years, situations got worse, and the Company must restructure its debt through a Suspension of Debts Payment (PKPU) process. APOL was able to resolve the debt dispute with peace. By late 2013, the number of APOL vessels had dropped to 66, mainly due to a substantial drop in dry bulk. Two months ago, the Company was declared bankrupt, and on November 4, 2019, the Stock Exchange had suspended the Company’s trade activity.

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