Samudera sitting pretty and on the prowl
Indonesia’s Samudera Shipping is sitting atop a $80m cash surplus and is seeking new acquisitions.
Singapore-listed Samudera Shipping has added almost $30m to its cash reserves in the last six months, bringing its surplus to over $80m.
The company made the capital on the back of a hot containership market and well-timed vessel disposals, and analysts believe it is now on the prowl for new acquisitions.
Samudera disposed of the 1,118-teu Sinar Bima (2008-built) in July for $12.5m, while the 1,740-teu Sinar Sabang and Sinar Sumba (both 2008-built) were sold in April for a reported $13.2m combined.
“With the group’s strategy to maintain a balance between owned and chartered tonnage, we expect the cash will be deployed on vessel purchases when ship prices are more favourable,” Singapore-based SAC Capital analyst Tracy Lim told TradeWinds.
