Berlian acquires Chembulk Tankers

The Jakarta Post ,  Jakarta   |  Thu, 10/18/2007 11:10 AM  |  Business

JAKARTA: Publicly listed shipping company PT Berlian Laju Tanker (BLT) has acquired Marshall Islands-based chemical tanker company Chembulk Tankers LLC, through its subsidiary Asean Maritime Corporation.

Director of BLT, Kevin Wong, said Wednesday in a statement to the Jakarta Stock Exchange that the cost of the acquisition was US$850 million.

He said the purchase made BLT the third largest chemical tanker operator in the world with 54 ships with a total capacity of 820,600 deadweight tons (DWT).

Chembulk now operates 16 double-hull ships capable of carrying a total of 397,200 DWT. It plans to add three more ships by 2009, which will increase its total capacity to 468,200 DWT. (14)

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