BLT bonus

Berlian Laju Tanker has firmed up plans for a $50m bond sale to help pay for new vessels.

It will sell IDR 400bn ($39.98m) worth of conventional bonds and a further IDR 100bn in Islamic bonds before the end of the month, Reuters reports.

Cash raised from the sale will go towards the purchase of new tankers, working capital and refinancing, BLT says.

TradeWinds reported last month the Indonesian shipowner was again ready to turn to bonds in order to raise cash.

In 2007, the Jakarta-based company raised nearly $130m from two separate bond sales.

BLT operated a fleet of 87 vessels including eight newbuildings, Clarkson says.

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