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Eitzen takeover a milestone for Asia

An Indonesian tanker player's latest acquisition puts it at the head of the pack.

Berlian Laju Tanker (BLT)'s announcement this month that it was in the process of taking over Camillo Eitzen & Co (CECO) caused a considerable stir in both Europe and Asia.

Who would have thought that an Indonesian owner that started out in 1981 with two small tankers would have the wherewithal to obtain such a prize less than three decades into its existence? The acquisition is the latest in a series of conquests of Norwegian companies by Asian players.
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