Samudera Shipping Line has sold a veteran tanker as part of its efforts to exit the domestic Indonesian market.

Samudera told the Singapore Stock Exchange the 3,500-dwt Sinar Labuan (built 1994) was purchased by related party PT Samudera Energi Tangguh.

It says the $860,976 sale fits its plan to depart the domestic tanker sector and focus on the international side of its business.

Samudera will book a profit of $75,000 on the ship, which it says was sold for further trading at above its demolition value.