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Thursday, August 11, 2011

PT Berlian Laju Tanker Tbk - Obtain New Loan Worth USD 685 million

PT Berlian Laju Tanker Tbk (BLTA) succeeded in obtaining a new loan of U.S. $ 685 million. These loan funds obtained from the six foreign banks. They are the DnB NOR Bank ASA (Norway), BNP Paribas (France), ING Bank (Netherlands), NIBC Bank (Netherlands), Nordea Bank Finland Plc (Finland), and Standard Chartered (Hong Kong).

"All of these funds we have collected since February 2011," said Kevin Wong, Director of Finance BLTA. He then explained some of the funds will be used to refinance most of the debt liability. Then, BLTA also will use the loan funds worth U.S. $ 67 million to reduce the burden of principal payments during a period of 12 months and several years to come.

In addition, in the second semester, the BLTA will focus its business development in the Indonesia market. Through its subsidiary, PT Buana Tbk Listya Tama, BLTA will be working on projects related to the presence of a substantial contract from the cabotage market as well as from the chemical tanker market recovery continues.

Kevin optimistic, BLTA can still recorded a positive performance despite the uncertainty of world economic conditions, particularly from the developed countries still exist.

The reason, "Supply of chemical tankers on the market is currently limited, so it will increase pressure on tanker demand," said Kevin.

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