bloodasp
17th October 2007, 10:49
berita selengkapnya
di indo blom heboh... kelmaan libur mungkin bentar lagi bakalan hebooh.. marekt si uda lompat cuma.. target bisa 3000 ni akhir taon (disclamer on)
Berlian Laju snaps up Chembulk
(Lloyds List Via Thomson Dialog NewsEdge) INDONESIA'S Berlian Laju Tankers has swooped for Chembulk Tankers with a $850m bid that will make the company the third largest chemical tanker owner in the world.
Singapore and Jakarta-listed BLT said in a statement that it had entered into apurchase agreement to acquire Chembulk Tankers, subject to approval byshareholders.
'By the addition of 16 chemical tankers, coupled with a proven strong and experienced Chembulk management team, the company will be the third largest stainless steel chemical tanker operator in the world in terms of capacity and number of ships, with 54 vessels of chemical tankers and 820,600 dwt capacity,' BLT said in a statement.
US-based Chembulk owns 11 chemical tankers and charters in five more, all with options to buy, ranging from 16,400 dwt to 34,000 dwt in size, with an average fleet age of 3.7 years.
Chembulk's total asset value at the end of August this year was $681m, and the company had debts of $7.18m.
Chembulk was only founded in January this year, when AMA Capital Partners, through its private equity vehicle ACP Fund II, acquired the chemical tanker operation from Connecticut-based MT Maritime.
The company had been expected to go for an initial public offering.
For the eight-month period ending August 31, Chembulk made an unaudited net profit of $15.1m. The purchase of Chembulk will see BLT broadening its geographical reach and moving into the North America market for the first time, having expanded into Europe and West Africa over the past three years.
'Chembulk's trading area and customer base will complement the company's current trading routes and market coverage and will further strengthen the company's position in the chemical tanker industry with a worldwide coverage to serve our existing and potential customers better,' BLT said.
Chembulk has offices in Westport, Connecticut in the US, as well as in Singapore and Rotterdam.
BLT has been on the prowl to acquire another company for the better part of two years, and last year failed to buy a Spanish owner after the two parties could not agree over price.
Fitch said that it viewed the acquisition as 'modestly positive from the operational perspective as it will further increase BLT's scale'.
The acquisition of Chembulk is the biggest move yet by BLT, which has expanded aggressively over the last three years. So far this year the company has added two LPG carriers, two chemical tankers and a pair of suezmaxes, giving it a fleet of 65 owned and operated vessels prior to the Chembulk deal.
The Singapore stock exchange reacted positively to the deal, with BLT's share price closing morning trading up 12.7% at S$0.35.
Copyright 2007 Informa Maritime Trade and Transport , Source: The Financial Times Limited
di indo blom heboh... kelmaan libur mungkin bentar lagi bakalan hebooh.. marekt si uda lompat cuma.. target bisa 3000 ni akhir taon (disclamer on)
Berlian Laju snaps up Chembulk
(Lloyds List Via Thomson Dialog NewsEdge) INDONESIA'S Berlian Laju Tankers has swooped for Chembulk Tankers with a $850m bid that will make the company the third largest chemical tanker owner in the world.
Singapore and Jakarta-listed BLT said in a statement that it had entered into apurchase agreement to acquire Chembulk Tankers, subject to approval byshareholders.
'By the addition of 16 chemical tankers, coupled with a proven strong and experienced Chembulk management team, the company will be the third largest stainless steel chemical tanker operator in the world in terms of capacity and number of ships, with 54 vessels of chemical tankers and 820,600 dwt capacity,' BLT said in a statement.
US-based Chembulk owns 11 chemical tankers and charters in five more, all with options to buy, ranging from 16,400 dwt to 34,000 dwt in size, with an average fleet age of 3.7 years.
Chembulk's total asset value at the end of August this year was $681m, and the company had debts of $7.18m.
Chembulk was only founded in January this year, when AMA Capital Partners, through its private equity vehicle ACP Fund II, acquired the chemical tanker operation from Connecticut-based MT Maritime.
The company had been expected to go for an initial public offering.
For the eight-month period ending August 31, Chembulk made an unaudited net profit of $15.1m. The purchase of Chembulk will see BLT broadening its geographical reach and moving into the North America market for the first time, having expanded into Europe and West Africa over the past three years.
'Chembulk's trading area and customer base will complement the company's current trading routes and market coverage and will further strengthen the company's position in the chemical tanker industry with a worldwide coverage to serve our existing and potential customers better,' BLT said.
Chembulk has offices in Westport, Connecticut in the US, as well as in Singapore and Rotterdam.
BLT has been on the prowl to acquire another company for the better part of two years, and last year failed to buy a Spanish owner after the two parties could not agree over price.
Fitch said that it viewed the acquisition as 'modestly positive from the operational perspective as it will further increase BLT's scale'.
The acquisition of Chembulk is the biggest move yet by BLT, which has expanded aggressively over the last three years. So far this year the company has added two LPG carriers, two chemical tankers and a pair of suezmaxes, giving it a fleet of 65 owned and operated vessels prior to the Chembulk deal.
The Singapore stock exchange reacted positively to the deal, with BLT's share price closing morning trading up 12.7% at S$0.35.
Copyright 2007 Informa Maritime Trade and Transport , Source: The Financial Times Limited