US-based Chembulk is taking over commercial management and time-charter control of at least one of the ships on bareboat charter to Indonesian parent Berlian Laju Tankers (BLT), TradeWinds has learned.
Several other similar moves may be in the works, either involving the US or the Jakarta commercial subsidiaries of parent BLT.
The control change is part of a legal settlement with financial owners of the ship and also part of an ongoing restructuring of the financially troubled group under leadership of Cosimo Borrelli of Hong Kong restructuring firm Borrelli Walsh.
The
