Singapore-listed Indonesian shipowner Samudera Shipping has announced the sale of two supramax bulkers.
The two 2010-built 57,334 dwt sister vessels Sinar Kutai and Sinar Kapuas were sold to two separate buyers for a total $20.25m, and will be delivered to the new owners in September.
“Sinar Kutai and Sinar Kapuas have contributed losses to the group for the past few years and do not fit into the planned future operations of the group. The disposal of Sinar Kutai and Sinar Kapuas will enable the Group to redeploy its capital for more suitable ships and other commercial activities,” the company explained the rationale behind the sale.
The company will use the proceeds from the sale to fund potential investment in Indonesian company which provides shipping services for domestic route, and for working capital and business expansion.