Samudera Shipping Line : Annual Report (11.75 MB)

RISE

andTHRIVE

SAMUDERA SHIPPING LINE LTD | ANNUAL REPORT 2023

Table

COofNTEN

iSAMUDERA SHIPPING LINE LTD

01	About Samudera
04	Our Milestones
06	Service Network
10	Message from Chairman
16	CEO's Statement on Operational
Review
24	Board of Directors
38	Key Management Personnel
41	Group Structure
TS 4342	Our Subsidiaries
Our Joint Venture
46	Corporate Social Responsibility
50	Sustainability Report
77	Financial Highlights
78	Corporate Information

ANNUAL REPORTii2023

SamuderaAbout

Over the past years, Samudera Shipping Line Ltd has been serving its customers in transporting and managing

their cargo across various ports in Asia. The Group has progressively established a good track record of professionalism and competency in its field, and through prudent management and a well-managed expansion strategy, has successfully built up its position as a credible and well-respected industry player today.

Leveraging its extensive network, Samudera's Container Shipping business segment offers reliable feeder services between its "hub" port in Singapore and other "spoke" ports in Asia, as well as inter-regional container shipping services to manufacturers, exporters and importers. Its vessels currently ply trade routes connecting various ports in Southeast Asia, the Indian Subcontinent, the Far East and the Middle East. The Group serves a wide spectrum of shippers from its headquarters in Singapore, and via representative and agency offices in various cities in Asia.

In the Bulk and Tanker business segment, Samudera provides shipping services for oil, chemical, gas, liquefied products, as well as dry bulk across the region. Through its subsidiary, Samudera also offers such services within the Indonesian domestic market.

Samudera's operating fleet, which comprises vessels owned and leased by the Group, currently stands at 31. This comprises 24 container vessels, 4 chemical tankers and

3 gas tankers. The Group continues to renew its fleet by acquiring, disposing and leasing vessels where appropriate.

The Group continues to expand its participation along the logistics value chain as part of its effort to enhance its value to customers. The off-shore logistics services offered by the Group include warehousing, freight forwarding and cargo handling within Asia.

Samudera is listed on the Mainboard of the Singapore Exchange Securities Trading Limited.

ANNUAL REPORT012023

Vision

Connecting

Indonesia

and Beyond

Mission

• Providing transportation services to meet the demand of distribution activities
• Positively contribute to the economic growth by providing efficient logistics solutions
• To ensure sustainable business growth and deliver additional value to shareholders
• Actively participating in creating employment and developing human capital

Values

Integrity

and

Professionalism

02SAMUDERA SHIPPING LINE LTD

Soedarpo Sastrosatomo

Our founder was born in Pangkalan Susu, North Sumatera, Indonesia, on 30 June 1920.

In October 1952, Soedarpo Sastrosatomo established NVPD Soedarpo Corporation, his first business line that engaged in trading, import and distribution.

On 1 March 1953, Soedarpo took over NV ISTA (Internationale Scheepvaart Transport Agenturen) and became the Managing Director. In November later that year, Soedarpo created Indonesia Stevedoring Ltd (INSTEL). In 1956, INSTEL acquired Stroohoeden Veem (which then became PT Sinar Harapan Veem Indonesia - SHVI), the biggest stevedoring and warehousing company in Surabaya at that time.

On 13 November 1964, through ISTA, INSTEL, Soedarpo started PT Perusahaan Pelayaran Samudera "Samudera Indonesia", which he held the position as President Director until the year 2000 and as President Commissioner until his passing on

22 October 2007.

Throughout his career, Soedarpo was active in various professional and social organisations, among others as the General Chairman of INSA (Indonesian National Shipowners' Association). Soedarpo was also known as one of the District Governors of Rotary International in Indonesia, and founder as well as the Chairman of the Rotary Indonesian Foundation. In 1985, Soedarpo received the "Orde Van Oranje- Nassau" award from the Kingdom of Holland for his services for the community.

In 1995, he received "Bintang Mahaputra Pratama" from the President of Indonesia. On 28 September 2000, Soedarpo was honored to be in the "Asia Maritime Hall of Fame" as an award for his career in building Samudera Indonesia as one of the well-respected players in the Asian maritime industry.

ANNUAL REPORT032023

Our

Milestones

1993 - 2003

1993

Incorporated in Singapore as a provider of container shipping services.

1994

Began feeder routes to Jakarta and Bangkok, which were subsequently extended to India, Sri Lanka, Malaysia and other ports in Indonesia.

1996

Expanded into the dry bulk carrier and tanker business.

1997

Listed on the Singapore Stock Exchange (Sesdaq). Subsequently, upgraded to the Main Board listing, Singapore Exchange Securities Trading Limited.

2002

To anticipate business growth and manage our extensive service network, the Group started joint ventures (JVs) in Malaysia and India. The business of the JVs is to represent and act as an agent for Samudera's shipments and also to represent as an agent for other shipping companies in Malaysia and India.

04SAMUDERA SHIPPING LINE LTD

2004 - 2013

2004

A joint venture with a local Thai company was set up to strengthen our container shipping presence in Thailand.

2006

Entered into LNG shipping by investing in a joint venture company, LNG East-West Shipping Company (Singapore) Pte Ltd.

Took delivery of two additional units of chemical tankers with capacity of 11,244 DWT and 10,600 DWT each. These tankers currently operate in Indonesian waters.

2007

Launched Chittagong Express service, linking Singapore and Chittagong, which extends the network coverage of the Indian Subcontinent.

2008

Took delivery of two additional container vessels with a capacity of 1,740 TEUs each, to strengthen container shipping business.

Commenced Yangon Express service, linking Myanmar directly with markets in the Southeast Asia region.

2011

As part of the effort to manage cost and capacity more efficiently, the Group acquired three container vessels with capacities ranging from 1,054 TEUs to 1,060 TEUs.

2014 - 2023

2014

Launched a Cambodia feeder service with a weekly sailing linking Singapore and Sihanoukville.

2015

Introduced a weekly service to Songkhla, connecting Singapore - Kuantan - Songkhla to tap into new market and to expand our liner business.

Samudera Logistics DWC LLC was incorporated as a logistics arm in Dubai, United Arab Emirates.

2018

Started warehousing activities in Malaysia through a joint venture with a local Malaysian company.

2019

Started the ISO Tank business, which provides transportation services for chemical and other liquid products using tank containers in Asia.

2020

Launched two additional services to Pontianak and Pasir Gudang.

Took delivery of two units of 1,900 TEUs container vessel through long-term time charter.

2021

Established Samudera Tankers to re-enter into the regional tanker business.

2022

Achieved the highest ever turnover.

Ventured into warehousing and distribution centre in Indonesia. Took delivery of two units of 20,000 DWT chemical tankers for the international market.

2023

Launched the Straits India Gulf service, linking Southeast Asia and the Middle East.

Set up two offices in Mundra and Pipavav to reinforce our footprint in India.

Took delivery of six container vessels (two units 1,500 TEU under owned and four units 1,900 TEU under long-term TC) and one dual-fuel LPG tanker.

ANNUAL REPORT052023

Delivering &Connecting

Fast and Wide

				Umm Qasr
Kuwait			Doha
	Dammam
				Abu Dhabi
									Dubai
										Muscat

INDIAN SUBCONTINENT AND MIDDLE EAST

Karachi

					Kolkata
Mundra
	Pipavav
		Mumbai

Chennai

Colombo

Chittagong

Yangon

Songkhla

Penang

Port Klang

We operate 20 services covering Chennai, Kolkata, Mumbai, Mundra and Pipavav in India, Chittagong in Bangladesh, Colombo in Sri Lanka and Karachi in Pakistan, Jebel Ali in United Arab Emirates, and Dammam in Saudi Arabia, with frequencies of up to 3 sailings per week.

06SAMUDERA SHIPPING LINE LTD