Samudera Shipping Line and Imoto Corporation to establish Blue Ocean Shipping, a shipping activities company in Japan.
Through its wholly-owned subsidiary Samudera Japan, the company has signed a joint venture agreement with Imoto Corporation which is part of the Imoto Lines Group.
Samudera Japan and Imoto Corporation will hold 51% and 49% stakes in Blue Ocean Shipping respectively.
Blue Ocean Shipping will begin with the acquisition of two container vessels from Imoto Lines Group as its initial fleet. Over time, the joint venture intends to grow its fleet to capture suitable opportunities in Japan’s coastal and regional shipping services.
Blue Ocean Shipping is expected to commence operations in the first half of 2026.
Shares in Samudera Shipping Line closed 1 cent lower or 1.031% down at 96 cents on Dec 16.
