Jul 04, 2012

Sale Of One Dry Bulk Carrier, Sinar Tuban

The Board of Directors (the "Board") of Samudera Shipping Line Ltd (the "Company") wishes to announce that on 29 June 2012, the Company's subsidiary, PT. Samudera Shipping Services has sold Sinar Tuban, a dry bulk carrier built in 2005, with a capacity of 5,500 Dwt.

The net book value of Sinar Tuban at the disposal date was approximately US$ 2,700,000. The Disposal is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group and the Company for the current financial year ending 31 December 2012.

The Disposal is in line with the Group's strategy to maintain a balance business portfolio.

None of the Directors or Substantial Shareholders of the Company has any interest, direct or indirect, in the above transaction.

By order of the Board,

Hermawan Fridiana Herman
Executive Director
4 July 2012