Seacon Shipping Hands Over Six Shipbuilding Contracts to CIMC Xinde Units

MT Newswires Live12-01

Seacon Shipping (HKG:2409) said entities wholly owned by CIMC Xinde Leasing have agreed to assume six shipbuilding contracts from an indirect Seacon unit under novation agreements signed on Nov. 28, according to a Monday Hong Kong bourse filing.

The contracts, covering six 5,200-dwt multi-purpose dry cargo vessels scheduled for delivery between March 30, 2026, and Sept. 30, 2027, will continue in effect as novated with certain amendments.

The six CIMC Xinde Leasing subsidiaries will assume the contracts and reimburse Seacon Shipping roughly $12.3 million, representing all amounts it has paid so far.

The company said the novation will bolster liquidity, improve working capital, and support future vessel acquisitions to optimise its fleet.

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