Berlian Laju Tanker (BLT) has entered into a joint venture with Singapore-based Miclyn Express Offshore in order to capture a share of the Indonesian offshore support vessel market.

BLT will have a 50% stake in the proposed joint venture, BLT Miclyn Offshore.

The company plans to broaden its customer base and gain more of a share in the Indonesian market, worth an estimated $250m.

The initiative comes after BLT’s proposed takeover of Norway’s Camillo Eitzen.