Berlian Laju Tanker to acquire two new vessels
Tuesday, January 19 2016 - 02:44 AM WIB
IDX-listed shipping company PT Berlian Laju Tanker Tbk (BLTA) plans to acquire two new vessels this year to support its gas and chemical transport business.
BLTA President Director Siana Anggraeni Surya said Monday that to finance the expansion program, the company has allocated US$10 million for capital expenditure this year. The required funds will be raised via the issuance of new shares.
Per end of last year, BLTA owns five vessels comprising of two small chemical tankers, and three gas tankers, each with capacity of 155 cubic meters. It also jointly owns another two vessels in the US with a partner.
At the end of 2014, the company had 39 vessels, but was forced to divest the assets to repay debts.
BLTA has also reduced its operating regions to only cover East Asia, Southeast Asia, Australia and New Zealand, from previously which also included South America, Trans Pacific, Trans Atlantic, and the Middle East.
Editing by Reiner Simanjuntak