AGO re-auctions seized Iranian tanker and cargo after failed December sale

By Rara Suratmi

Indonesia’s Asset Recovery Agency will re-auction a seized Iranian-flagged oil tanker and its cargo of light crude oil on Jan. 30, after an initial auction held in December 2025 failed to result in a sale.

The asset recovery agency, under the Attorney General’s Office, said the auction will cover the tanker MT Arman 114 along with its onboard cargo of about 167,000 metric tons, or roughly 1.25 million barrels, of light crude oil.

The sale will be conducted through the Batam office of State Assets and Auction Service Office, with bids submitted via the state auction portal. The minimum price has been set at 1.17 trillion rupiah ($69.5 million), with a bid guarantee of 118 billion rupiah required.

Read also: AGO to auction seized Iranian tanker

The vessel, built in 1997 in South Korea, is currently anchored in the waters off Batu Ampar in Batam, Riau Islands province. It will be sold as a single package together with its cargo on an “as is, where is” basis, the agency said.

The tanker and oil were seized after Indonesian authorities discovered the vessel involved in an illegal ship-to-ship oil transfer in July 2023. The ship’s captain, an Egyptian national, was later convicted in absentia on pollution charges and sentenced to seven years in prison, prompting the court to order the forfeiture of the tanker and its cargo.

Authorities said auction participants must hold valid oil processing or oil trading licenses under energy ministry regulations and submit required documents by Jan. 27.

Editing by Alexander Ginting