Companies linked to Indonesian businessman Salik Soetemo have acquired First Ship Lease Trust's last three container ships.
The ships FSL Elixir and FSL Eminence have been renamed SPIL Kartini and SPIL Kartika respectively, after being purchased by PT Salam Pacific Indonesia Lines (SPIL), a domestic Indonesian liner operator. Both vessels are currently operated by SPIL.
SPIL is now the 26th largest liner operator, with combined capacity of 57,634TEU, entirely comprising of 51 owned ships. The third ship, YM Enhancer, was renamed Green Harmony after being bought by a Singapore-incorporated Soon Fong Shipping, which is also controlled by Soetemo.
Citing market uncertainties amid the Covid-19 pandemic, FSL Trust sold the three 4,250TEU ships in August; at the time, the vessels had a market value of between US$7.49 - US$7.85 million each, close to their scrap value. The ships were delivered to the buyers as soon as they completed a long-term bareboat charter with Taiwanese liner operator Yang Ming Marine Transport.
Soon Fong functions purely as a tonnage provider and a company representative told Container News that there is no overlap with SPIL’s operations, although both companies are controlled by the Soetemo family.
Soon Fong also owns two 1,700TEU ships, Green Hope and Green Horizon, which are now time-chartered to Evergreen and Ocean Network Express (ONE), respectively. Technical management for Soon Fong’s ships is handled by Asia Pacific Shipmanagement, which is also owned by the Soetemo family.
Martina Li
Asia Correspondent
