Berlian Tanker gets $20.4 million loan

Berlian Tanker gets $20.4 million loan

JAKARTA (JP): PT Berlian Laju Tanker, a publicly-listed shipping company, signed an agreement yesterday with Marubeni Corporation of Japan for a loan of US$20.4 million to finance the building of two chemical cargo tankers.

A director of Berlian, Widihardja Tanudjaja, said yesterday that under the agreement, the loan from Marubeni will be equivalent to 85 percent of the $24 million costs of the two tankers, while his company will put up the remaining 15 percent.

Widihardja said the new tankers are now being built by Marubeni at its Fukuoka and Shitanoe shipyards.

"In this case, Marubeni is acting not only as the seller of the two ships but also the fund provider," said Widihardja.

He added that the first of the two tankers, with a 5,600 deadweight ton capacity, is scheduled to be completed in December and the second one with a capacity of 3,200 deadweight tons in April 1997.

"The operation of the two new ships next year will increase the number of our fleet to 21 with operations covering the Asian region," said Widihardja.

The loan agreement was signed by Marubeni's general manager, Akira Matsuda, the director of Marubeni's Jakarta representative, Yoshio Fujimoto, and Berlian's president, Hadi Surya. (08)