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

MT Newswires06-04

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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