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Samudera buys container ship for $13.6m

Singapore: Indonesia-based Samudera Shipping Line has inked a contract to acquire a 2002-built container vessel for $13.6m. The Singapore-listed shipping firm said the acquisition of the 1,054 teu vessel will be financed through a combination of internal resources and bank borrowings. The container vessel is scheduled to be delivered at the end of January 2011, and it will be deployed on the company's Yangon service. A Samudera official in Singapore declined to reveal the name of the vessel. Samudera currently operates a total of 48 vessels, of which 27 are container vessels. The latest acquisition will see Samudera own four vessels, allowing the company "a better control over vessel operating costs and capacity", it said in a statement to the Singapore exchange. [19/01/11]

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