Indonesia's Samudera Shipping Line announced that its wholly-owned subsidiary, Samudera Tankers, has entered into agreements to sell two chemical tankers for an aggregate of $22.95 million in cash.
The vessels, Sinar Malahayati and Sinar Mendawai, will be delivered to an unrelated third-party buyer alongside their existing time charters.
The company said it expects the transaction to result in an estimated pre-tax gain on disposal of approximately $1.3 million. This estimation is based on the aggregate book value of the vessels of $21 million as of December 31, 2025, after accounting for transaction costs.
While the vessels recorded net losses of $0.5 million for the financial year ended December 31, 2025, an independent valuation commissioned by the group valued them at approximately $25 million as of March 27, 2026.
The company stated that the sale price was negotiated on a willing-buyer, willing-seller basis, taking into consideration the age, condition, and market values of comparable tankers.
Net proceeds from the disposal are intended to be used for general working capital, and the board of directors may also redeploy the capital for fleet renewal or other investment opportunities. The buyers will pay a 10 per cent deposit into escrow within three banking days, with the remaining 90 per cent balance payable upon delivery of each vessel.
