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Samudera Shipping Line to Dispose of Chemical Tankers for $23 Million

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Samudera Shipping Line (SGX:S56) will dispose of two Singapore-flagged chemical tankers, MT Sinar Malahayati and MT Sinar Mendawai, to a third-party buyer for nearly $23 million, according to a Wednesday filing with the Singapore Exchange.

Sinar Malahayati has a 12,105 gross tonnage, while Sinar Mendawai has a 11,950 gross tonnage.

Proceeds raised from the disposal will be used for loan repayment, general working capital and for fleet renewal and other investment opportunities.

Additionally, since both vessels are employed on existing time charters, a charter party novation agreement is also expected to be signed between the buyer, seller and the charterer before or upon delivery.

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