Shipping bond tests foreign investors' faith in Joko's revival plan

Singapore

AN Indonesian shipping company is offering the first dollar bond from the country's industry in more than five years. Indonesia President Joko Widodo must be hoping it succeeds.

PT Soechi Lines is planning to issue US$200 million of five-year dollar notes as the government banks on new infrastructure to revive a shipping sector plagued by a shortage of ports. Indonesia's largest private tanker operator met with potential investors in Singapore, Hong Kong and London this month, according to people familiar with the matter.