Indonesia’s Samudera Shipping has announced the disposal of a pair of vessels as it works to sell of a large chunk of its fleet.
Sinar Jogya, a 2001-built oil products tanker, has been sold to an unnamed party for a price of $7.9m and Sinar Padang, a 2006-built 4,181 dwt containership, has been sold for $1.2785m.
The book value of the vessels is $8.3m giving Samudera a gain on the disposal of over $800,000.
The sale is due to restrictions placed on the company from owning and registering new Indonesian flagged vessels, which has seen the company sell or scrap its local fleet as it moves to cease all domestic services within Indonesia.
Sumudera will continue to provide shipping services internationally to and from Indonesia, and revealed it is instead considering investing in local companies involved in domestic shipping.