Seacon Shipping Group Holdings Limited (“SEACON”) disclosed that its wholly owned Singapore subsidiary, Seacon Shipping Pte. Ltd., has signed two vessel purchase agreements with Oriental Prime Shipping Co., Ltd. on 26 June 2026 after market close.
The agreements cover the acquisition of two new chemical/oil tankers—“Golden Gerbera” and “Golden Osmanthus”—each with a gross tonnage of 4,981, scheduled for completion in 2026. The aggregate consideration is USD39.20 million, or USD19.60 million per vessel.
Payment terms: 1. Deposit – USD3.92 million for Golden Gerbera and USD1.96 million for Golden Osmanthus, both payable within five banking days after contract signing and written acceptance. 2. Balance – the remaining purchase price, together with any other sums due, will be transferred to an escrow account and released to the seller upon vessel delivery or within four months of the deposit payment, whichever is later.
SEACON intends to fund the transaction through a mix of internal resources and external financing.
Management views the purchases as part of an ongoing fleet-renewal strategy aimed at phasing out older vessels, expanding controlled capacity, and strengthening competitive positioning in the chemical and oil tanker segment. A larger, younger fleet is expected to enhance SEACON’s ability to secure additional shipping and management contracts, particularly from larger market participants that prioritise fleet size and vessel condition.
Regulatory classification: Under Hong Kong Listing Rules 14.07 and 14.22, the combined transaction exceeds the 5% but remains below the 25% asset ratio threshold, rendering it a discloseable transaction subject to announcement and reporting requirements but not shareholder approval.
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