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Marine Log

October 15, 2007

BLT to acquire Chembulk Tankers

Indonesia's Berlian Laju Tanker Tbk reports that its wholly owned subsidiary Asean Maritime Corporation has entered into a conditional agreement to purchase from Chembulk Holdings Inc., the entire issued share capital of Chembulk Tankers LLC including its eleven chemical tankers

The total consideration for the proposed acquisition is US$ 850,000,000,

Westbury, Connecticut, based Chembulk Tankers LLC, incorporated on January 9, 2007, is one of the ten largest owners and managers of stainless steel chemical tankers in the world. It currently operates a modern fleet of 16 vessels aggregating approximately 397,200 DWT, and has contracted to charter-in three additional newbuildings through 2009 which will bring its total fleet to 19 vessels aggregating approximately 468,200 DWT.

Read the announcement here

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