News / January 28, 2009

Berlian Laju may buy LNG carrier and tankers

Indonesia’s Berlian Laju Tanker (BLT) could splash $280m on buying one LNG carrier and four chemical tankers this year.
Financial chief Kevin Wong told Investor Daily Indonesia that the owner would raise its debt levels and use internal cash reserves to fund the acquisitions. The move comes two months after it was reported that BLT was poised to sell three more of its chemical tankers in an effort to raise cash to pay the remaining $186m of a $250m bridge loan that was due on 19 December. Sources close to the company said a $160m sale-and-leaseback deal was imminent. The company has four LPG carriers and four chemical tankers on order in Japan for delivery from this year until 2012.