Singapore's Samudera Shipping Line has said it will sell all its Indonesian-flagged ships due to laws preventing it replacing existing vessels.
The company announced the disposal of the 18,050-dwt tanker Sinar Jogya (built 2001) and the 241-teu boxship Sinar Padang (built 2007) on Thursday, for $7.9m, and $1.28m respectively.
It said that under Indonesia's current regulations, the group is restricted from owning and registering new Indonesian-flagged vessels.
