Berlian Laju defaults on 6 debt instruments
Tuesday, 28 February, 2012 | 16:41 WIB

TEMPO Interactive, Jakarta:PT Berlian Laju Tanker, Indonesia's largest oil-and-gas-shipping firm, said on Monday that it has defaulted on six of its debt instruments, both on dollar-denominated debt and local currency bonds, due this month.

The company said in a statement published in the Indonesia stock exchange website that it had made no payment to six of its debt instruments, including two worth a total of $44.1 million due in Feb. 9 from its $125 million guaranteed convertible bonds.

Berlian said late last month that it was freezing payments on its debt of $2 billion, blaming a slump in freight markets.

REUTERS