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TransAtlantic AHTS goes long
Swedish offshore vessel about to break out of the spot game after penning Stena drillship support pact with Chevron Canada.
FSL demands BLT return
First Ship Lease Trust has called for Berlian Tanker Laju to send its three chemical carriers home after the Indonesian operator defaulted on payments on the trio.
The shipowner added that the recall was in addition to its demand for payments due on the 12-year charterback contracts to be made by 8 March.
FSL warned last week that it was considering all options including repossessing the vessels.
It added that alternative employment opportunities were available for the ships albeit at reduced rates.
FSL’s exposure to Berlian Laju is not inconsiderable, accounting for just over 12% of its revenue in 2011.
BLT is struggling to cope with a debt load of $1.9bn, of which $418m is due for payment this year.
Last Friday, the company announced it had frozen payments on bank loans, bonds and ship leases while it figured out how to tackle its finances.
The Indonesian company had hoped to thrash out a solution with its major creditors and vessel lessors to solve its debt crisis.
But the speed of FSL’s move suggests it is not in the mood to give much ground.
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