SEACON Shipping Divests a Bulk Carrier for $41.6 Million

Stock News07-20

SEACON (SEHK: 02409) has announced the sale of a vessel for a total consideration of US$41.6 million.

The transaction involves the company's indirect wholly-owned subsidiary, Seacon Tokyo Ltd, as the seller, and OBE SHIPS MARITIME S.A. as the buyer. The agreement was formalized on July 20, 2026, following the close of trading on the Hong Kong Stock Exchange.

The vessel in question is a bulk carrier constructed in 2023, with a gross tonnage of 36,570 tons. The ship is currently held by the seller under a bareboat charter arrangement from its owner.

Prior to the scheduled delivery date, the seller plans to exercise its purchase option under the terms of the bareboat charter to acquire the vessel from the owner at the stipulated option price. Subsequently, the vessel, once acquired, will be delivered to the buyer as per the terms of the sale and purchase agreement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment