BLT shares suspended

Trading in PT Berlian Laju Tanker (BLT) shares was suspended as from today in light of “important information” that has not so far been disclosed to shareholders, thought to be a “debt standstill” announcement. The Indonesian Stock Exchange has placed the temporary suspension on trading until further notice. BLT’s share price has fallen by 45% in the past 12 months, with analysts and credit ratings agencies expressing increasing concern over the volume of unsecured debt that will mature shortly and the lack of recovery in the chemical tanker market.