Feb 23, 2011

Berlian Tanker to pay US$170 mio orders

One of Indonesian giants oil and gas shipping company PT Berlian Laju Tanker Tbk (BLTA) sets US$165 million-US$170 million to complete their gradual payment of the order of 7 chemical and gas tankers by 2012.
Belian Tanker Director of Finance Kevin Wong stated half of the ordered tankers will be delivered in the middle of the year and will be used to support their current 96 unit fleets.
“We require US$120 million to pay off the 3 ships that will be delivered in the middle of this year. For next year, we need another US$45 million-US$50 million,” as he said, today.
About US$70 million of the total payment will use loan facility from a consortium of 6 Singaporean banks in the amount of US$685 million. A US$593 million loan from it is allocated for international refinancing that will be mature this year.

Disclosure: No position at the stock mentioned above.

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