Berlian Laju Tanker's profits decline by 5 percent

Berlian Laju Tanker's profits decline by 5 percent

JAKARTA (JP): PT Berlian Laju Tanker, a publicly-listed
shipping company, yesterday said that its net profits declined by
5 percent last year to Rp 9.6 billion (US$4 million) despite an
increase of 9 percent in its revenues.

"The profit decline was due to some vessel maintenance
expenses payable in 1995, an increase in costs of bank loans and
a weaker economic situation at the end of the year," Berlian's
president, Hadi Surya, said.

The company's annual report shows that the company's net
revenues rose from Rp 57 billion in 1994 to Rp 63 billion last
year.

In an annual general meeting here yesterday, the company's
shareholders approved the distribution of dividends of Rp 100 per
share, totaling Rp 5.8 billion or 61 percent of the company's net
profits.

Hadi said the company saw a stronger performance in the first
quarter of this year with one new ship entering service in early
February.

The company currently has a fleet of 17 vessels throughout
Asia, of which three are clean petroleum products (CPP) tankers,
11 chemical tankers, one edible oil tanker, one liquefied
petroleum (LPG) tanker and one crude/black oil tanker.

Hadi said that Berlian's subsidiaries -- Indigo Pacific
Corporation and Diamond Pacific International Corporation -- have
ordered two new chemical tankers from a Japanese shipyard.

The construction of the first of the two tankers, with a 5,600
dead weight ton (DWT) capacity, is scheduled for completion in
December and the second one with a capacity of 3,200 DWT in April
1997.

Berlian divides its operational areas into four different
regions: the domestic region, the Far East region, the South East
Asian region and a combination of the Far East and the South East
regions. (alo)