Samudera continues expansion in Industrial Shipping
Main board listed Samudera Shipping Line said it is
continuing its investments in Industrial Shipping in
order to develop the business. It's subsidiary Foremost
Maritime has signed a new building agreement with Sumitomo
Corporation of Japan on June 19, 2003 for the construction
and purchase of a 2,850 deadweight fully stainless steel
chemical tanker. The vessel shall be built by Shitanoe
Shipbuilding Co., Ltd. of Japan.
The tanker is expected to be delivered in the 3rd quarter
of 2004. The vessel shall be deployed to distribute
various petrochemical products such as caustic soda,
fatty alcohol etc., within the South East Asian region.
With the expected addition of this tanker, Samudera's
industrial shipping fleet, on owned and committed basis,
would now comprise of 20 vessels: 2 product oil tankers,
10 chemical tankers, 1 liquefied petroleum gas carrier,
1 cement carrier, 3 coal carriers and 3 marine offshore
support vessels.
During the signing ceremony Samudera COO Soebagjo Windoe
said "we are very committed to expand our industrial
shipping". He added that "through consistent
and stable services, we position ourselves as reliable
partners with our customers in handling their logistics
issues of bulk cargoes. We are not limited to any particular
commodity, as Samudera has adequate expertise to handle
chemicals, oil, gas, coal, cement as well as operational
expertise in marine off-shore". The Company says
it will continue to explore opportunities to serve directly
the cargo owners in each of these areas.
Samudera Shipping Line has its main business as a major
regional player in the container feeder shipping business,
serving the Middle East, Indian Sub-continent, South
East Asia and the Far East market. Besides container
shipping, Samudera is also engaged in industrial shipping,
through its subsidiary Foremost. The Company says that
diversification in industrial shipping is part of its
strategy to spread business risks and to provide a stable
flow of profits.
Submitted by
Dhrubajyoti Das, Director - Investor Relations
on 20/06/2003 to the SGX |
