China’s shipowner Seacon Shipping Group Holdings Limited expects to make a $9m gain on the sale of a modern 36,357 gross tonnage bulk carrier.
The company said in an exchange filing last week that it has agreed on August 12 an offer of $32.1m for its Seacon Athens bulk carrier from Shenxin Ship Leasin (Shanghai) Co, wholly owned by JIC Financial Leasing (Shanghai) Co, which is a state-owned enterprise established in the PRC.
The vessel, is a 36,357 gross tonnage bulk carrier (built in 2019) by Nantong Xiangyu Shipbuilding & Offshore Engineering Co.
Seacon Shipping Group reported that the seller is Golden River Ships Limited, a company incorporated in Hong Kong and an indirect wholly-owned subsidiary of the company.
The bulker will be handed over to its new owner, a subsidiary of Chinese state-owned JIC Financial Leasing, between 31 August and 30 December.
The buyer shall have the option of cancelling the agreement if the vessel is not ready for delivery by 30 December 2024.
The directors of Seacon Shipping Group see the disposal of the vessel – at a reasonable price – an opportunity, which will enable the group to enhance its working capital position, further strengthen its liquidity, and provide funding for the acquisition of new vessels to optimize the group’s fleet portfolio.
The Group now expects to record a gain from the disposal (after tax and expenses) of around $9m.
However, the company says that the actual gain from the disposal can only be determined at the completion of the deal based on the actual net asset value of the vessel and is subject to audit.
