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Berlian predicts higher net post Chembulk takeover

Berlian predicts higher net post Chembulk takeover

Jakarta: PT Berlian Laju Tanker Tbk has predicted that the net profit, after acquiring Chembulk Tankers, will reach US$72.74 million compared with US$53.71 million before the acquisition.
Berlian Laju Tanker President Director Widihardja Tanudjaja said the revenue from chemical tanker charters should increase from 53% to 69%, but the revenues from oil tankers will decline from 36% to 23.6%.
The EGMS of PT Berlian Laju Tanker Tbk has approved the plan to acquire Chembulk Tankers at US$850 million.
The transaction will be completed this week.
A syndication of four banks will finance the acquisition. They are DnB NOR Bank ASA, Fortis Bank SA/NV, ING Bank NV and NIBC Bank Ltd.
Widihardja said the company has 25 ships on order through to 2011 - 17 chemical tankers, two LNG tankers, two ethylene tankers, and four LPG tankers.
By 2011 the company will have a total capacity of 1.1 million dwt. [19/12/07]


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