Friday, January 27, 2012

Berlian Laju

Berlian Laju: Possible negative sentiments, after Co. announced it will stop servicing its debt in a move that will affect US$418m in repayments. The debt moratorium will enable the Berlian Laju group to review its financial position and arrangements, cited Co.

Decision to freeze payment on its debt follows a covenant breach on a loan granted to a Berlian Laju subsidiary. Fees charged by shipping firms to transport oil and other commodities have fallen sharply in recent months, hurt by a slump in Chinese buying and a surplus of vessels, while the Baltic Exchange's main sea freight index, fell to its lowest in over three yrs on Wed

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