Standard Chartered Concludes Leaseback Deal with Berlian Laju Tanker

Standard Chartered has signed an agreement with PT Berlian Laju Tanker Tbk (BLT), a global chemical tanker operator that is publicly traded in Indonesia and Singapore, on the sale and leaseback of four stainless steel chemical tankers.

The four chemical tankers are leased to BLT on seven to 11 years’ bareboat basis. Three of the tankers are in service with the fourth to be delivered in the coming weeks. The announcement follows Standard Chartered’s support of BLT’s recent debt refinancing arrangement and the company’s successful rights issuance in 2010.

Kevin Wong, finance director at Berlian Laju Tanker, said: “The transaction again proves Standard Chartered Bank’s commitment to the shipping industry. It is refreshing to have a bank that understands shipping, has a wide range of products, and is willing to back it up with its balance sheet. We have worked with the ship operating lease team in the past and can always count on their professionalism and industry knowledge.”

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