Singapore's Samudera Shipping Line has sold another tanker as it continues to pull out of the Indonesian market.

The company said it had completed the disposal of the 18,000-dwt Sinar Emas (built 2000) to an unnamed buyer.

It added the price was $6.9m, against a book value of $6.4m.

The net gain is $543,000, after taking into consideration selling costs and bunkers onboard.