Mar 23, 2011

Samudera Takes Delivery Of Supramax Bulk Vessel - Sinar Kutai

The Board of Directors of Samudera Shipping Line Ltd ("the Company"), is pleased to announce that its subsidiary, Foremost Maritime Pte Ltd has on 21 March 2011 taken delivery of Sinar Kutai, a newly built Supramax bulk carrier with a carrying capacity of approximately 57,700 dwt (deadweight tonnes). This vessel, built by STX Offshore and Shipbulding Co. Ltd, was delivered on schedule at Jinhae, Korea and is the first of the two Supramaxes that the Group contracted in early 2008. The second vessel is expected to be delivered next month.

Sinar Kutai will start its maiden voyage on 23 March 2011 carrying potash cargo from the west coast of the USA to Brazil.

The Group believes that the addition of Sinar Kutai together with the forthcoming delivery of the second drybulk vessel, which is expected to be in April 2011, will contribute positively to the Group.

To date, the Group operates a total of 25 vessels under its industrial shipping division. Of these, there are nine chemical tankers with capacities ranging from 2,700 DWT to 11,200 DWT, two oil tankers of 17,700 DWT each, two gas tankers, two offshore service boats, one oil barge, four harbour tug boats and five coal / bulk carriers.

Samudera Shipping Line Ltd is a major regional player in the container shipping business, serving South East Asia, the Indian Sub Continent, the Far East markets, as well as the Indonesian domestic market. The Company is also engaged in owning and chartering vessels for chemical, dry bulk, off-shore and oil transportation in the region.

By order of the Board

Dhrubajyoti Das
Executive Director
23 March 2011