Berlian Laju units secure another favorable court Order

By Demas Simbolon

Days after securing a court Order in Singapore that postpones legal proceedings against them for three months and in turn allows them to service customers, certain subsidiaries of PT Berlian Laju Tanker have now obtained an Interim Order from the US court that frees their vessels? movement in the country.

Berlian Laju Tanker, Indonesia?s largest oil and gas shipping group listed on both Indonesia and Singapore stock exchanges, said in a statement that some of the subsidiaries who obtained the Singapore Order have in turn made applications to the US Courts, part of the Group?s strategy to ensure that its ships and cargo are protected wherever they ply.

?With the support of the Group?s major bank creditors, the companies who filed applications in the US have successfully obtained Interim Order that, among other things, prohibits the arrest of their vessels in the United States,? it said.

Berlian Laju in January announced that it has defaulted on its debt instruments payment. It said the falling freight rates had forced the company to stop servicing debts in order to allow it to review its financial position and arrangements.

Editing by Dadan Wijaksana