JAKARTA: Indonesia's PT Berlian Laju Tanker, the world's third-largest chemical shipper, hopes to restructure its $1.9 billion debt by the year-end and will switch its focus to niche liquid chemical and gas transport, its founder and chairman said in a rare media interview.
The country's leading oil and gas shipper defaulted on several debt instruments earlier this year and has been talking to creditors about restructuring its operations and finances. Its shares were suspended in late-January when it froze payments on its debt, and its market value has collapsed to $236 million - down 90 percent from the shipping boom of early 2008.
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