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.