Samudera Shipping sells two small tankers

Indonesia’s Samudera Shipping Line has sold two of its small tankers, Sinar Tokyo (2,900 dwt, built 2004) and Sinar Bukom (3,100 dwt, built 1990), to PT Samudera Energi Tangguh for $4.5m and $360,000 respectively.

The Singapore-listed seller says it made a combined gain of $364,588 on the book values of the two tankers.

Sinar Tokyo was sold to the PT Samudera Indonesia Tangguh subsidiary for $286,385 more than its carrying value “after taking into consideration stock onboard”, Samudera said today in a filing.

The tanker had been operating at a loss and management could not foresee any improvement to its employment in international markets “in the foreseeable future”, Samudera said.

The 25-year-old Sinar Bukom passed its special survey in October, according to shipping databases, and was earmarked for the scrapyard, but Samudera said it chose to sell the vessel at a book gain instead.

Samudera intends to utilise the proceeds from the disposal for general working capital of the company and its subsidiaries.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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