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Berlian Laju enters offshore support vessel market

Singapore: Rapidly expanding SGX mainboard-listed PT Berlian Laju Tanker Tbk (BLT) is looking to capture a part of the promising Indonesian offshore support vessel market through a proposed joint venture with Miclyn Express Offshore.

With a 50% stake in the proposed jv which will be branded as PT BLT Miclyn Offshore (PT BMO), BLT expects to broaden its charterers' base and strategically penetrate the Indonesian offshore support vessel market that has an estimated market size of US$200 million to US$250 million in revenues at present. Indonesia is one of the fastest growing areas for offshore support vessels.

The news follows hot on the heels of BLT's proposed takeover of Norway's Camillo Eitzen, a move that will propel BLT to the top of the chemical tanker leader board.  [09/12/09]

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