[250512.EN.SEA] BLT And KPI Bridge Oil Resolve Dispute

Jakarta: Indonesia-based shipowner Berlian Laju Tankers (BLT) and bunker supplier KPI Bridge Oil have reached a settlement over a legal dispute leading to the arrest of BLT's chemical tanker.

Both parties announced that the legal proceedings in the US “can be put behind” and the two companies will focus on developing business relationship for the years to come. The terms of the agreement are confidential.

BLT's chemical tanker Partawati had been arrested in Richmond, California, after the shipowner failed to pay bunker fuel bills worth some $2.5m.

“We are pleased that a compromise concerning the MV Partawati has been reached as a first step in resolving our total outstanding with BLT and the groundwork laid to enable KPI Bridge Oil to continue to support and supply marine fuels and lubricants to BLT vessels as they restructure and grow their business,” said Jan Obel, ceo of KPI Bridge Oil.

Widihardja Tanudjaja, president director of BLT said: “KPI showed that it was prepared to take a prompt and realistic assessment of the situation and take a quick decision that was not only in its own favour but was also the right thing for BLT here and now.”

Source : STA, 25.04.12.