Samudera Shipping Line through its subsidiary, Samudera Tankers, has sealed a deal for the acquisition of a new-build liquefied petroleum gas (LPG) vessel from Global One Energy SA, Geneve. The company’s Singapore-based tankers unit is paying $26.2m to Global One Energy in Geneva for a 7,500 cu m vessel sale.

The new ship is expected to be delivered in the second quarter of 2023. Samudera Shipping will determine the flag of the LPG vessel when the ship is closer to be delivered.

According to Samudera Shipping, the acquisition price for the new vessel is US$26,200,000. The book value and net tangible asset value will be equal to the acquisition price of the ship.

The acquisition will be financed through a combination of internal resources and bank borrowings. In determining the purchase price, the company took into account the purchase price of new vessel having closest resemblance with the new LPG vessel.

The purchase of the LPG vessel will enable Samudera Shipping to expand its fleet of vessels. With increased vessel on its fleet, the Group will be able to enter into more charter deals.

Samudera Shipping notes that none of the directors or controlling shareholders of the company has any interest in the purchase of the new vessel.