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)