Berlian Acquires Chembulk Tankers

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 in a statement to the Jakarta Stock Exchange that the cost of the acquisition was $850m. 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. [Source: The Jakarta Post]