China’s shipowner Seacon Shipping Group Holdings Limited has revealed that its indirect wholly-owned subsidiary, Seacon Shipping Pte. Ltd., will purchase six vessels for an aggregate consideration of $63.9m ($10.65m each), the Hong Kong-listed company said in a filing.
Seacon Shipping will take over the units under the deals signed among the company, the seller Jiangsu Dajin Heavy Industry, and the original buyer Union Marine Limited.
The vessels, six 5,200 dwt multi-purpose dry cargo vessels to be constructed and expected to be respectively delivered on 30 March and 30 September 2026, 30 June and 30 September 2027, as well as 30 March 2027 for the remaining two vessels.
Six novation agreements dated October 30, entered into among the buyer, the seller and the original buyer, in relation to the transfer of all the rights and obligations (under the original shipbuilding contracts), to the buyer in relation to the six vessels.
The buyer, Seacon Shipping Pte. Ltd., is an indirect wholly-owned subsidiary of the company. The original buyer is Union Marine Limited, a company incorporated and existing under the laws of the British Virgin Islands, an independent third party, whilst the seller is Jiangsu Dajin Heavy Industry Co., Ltd.
The six vessels, each will be constructed respectively under each of the corresponding “Novation Agreements and Shipbuilding Contracts.”
The acquisition of the ships, as explained by the company, is in line with the Group’s strategy to optimize its vessel fleet by gradually phasing out its older controlled vessels and replacing them with newer vessels, as well as to expand the Group’s controlled vessel fleet.
