AsiaContainers

Samudera Shipping offloads feeder boxship

Singapore-listed Indonesian owner Samudera Shipping Line has announced that it has sold its 2005-built 378 teu containership Sinar Jepara as part of the company’s strategy to clear out its Indonesian-flagged fleet.

The vessel has fetched a price of $1.16m, and Samudera will use the proceeds from the sale for working capital and business expansion.

Samudera said the company is restricted from owning and registering new Indonesia-flagged vessels under current Indonesia shipping laws and it has adopted a strategic approach of gradually selling or scrapping existing Indonesia-flagged vessels.

According to Samudera, it has ceased its container shipping services on domestic routes and will continue participation in the bulk and tanker business through joint ventures in the country, while the company will continue to provide shipping services overseas.

 

 

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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