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BLT plans post-restructuring fleet expansion

Berlian Laju Tankers (BLT) is planning to expand its fleet of small gas carriers, if it successfully completes its financial restructuring.

Marcus Hand, Editor

November 2, 2015

1 Min Read
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With much of BLT’s fleet hived off with creditors taking over 27 vessels with the ships being placed under the Chembulk brand, the company will be left with just a fleet of nine vessels with a focus on the Indonesian cabotage market.

In a presentation to shareholders BLT said that immediately following restructuring it planned to buy three small gas carriers. Looking through to financial year 2020 the company plans to increase its fleet to 18 vessels with acquisition or chartering in of small-medium size chemical/oil tankers and gas vessels between 5,000 – 8,000 dwt.

It said that post-restructuring the company would be largely debt free with a cash balance of $25m.

“The core management team, led by the Surya family, will remain in place to spearhead the business development of BLT and its fleet expansion plans,” the company said.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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