[SINGAPORE] Publicly listed company Samudera Shipping Line delivered the first of two 17,500 deadweight long ton tankers to Indonesian state-owned oil and gas company Pertamina on Monday. The Sinar Emas is on a long-term contract for a period of 10 years with an option to extend for a further two years.


At a ceremony in Jakarta, Samudera chief executive officer Randy Effendi said: "We are very proud to be associated with the activities relating to distribution of fuel oil, the primary source of energy for the industrial sector all over Indonesia."

The vessel was built by Jiangdu Shipyard, China and although the shallow-draft vessel experienced delays in construction, Samudera says the vessel is of good quality. The addition of the new tanker brings Samudera's tanker fleet to seven vessels.

With the addition of the new tanker, Mr Effendi said he expects the additional revenue from the tanker sector to boost the company's overall performance.

A major regional player in the container feeder shipping business, Samudera is also engaged in vessel owning and chartering through its subsidiary Foremost. The company says that diversification in vessel owning and chartering is part of its strategy to spread business risks and provide a stable flow of returns.