Hong Kong-listed Seacon Shipping announced that on December 31, 2025, its indirect wholly owned subsidiary, Seacon Shanghai, entered into an agreement to sell the vessel Seacon Shanghai for $26.7 million.
The buyer is Dexter Navigation, a Liberian company.
The vessel is a bulk carrier built in 2019 with a gross tonnage of 44,038. It is currently chartered to the seller under a bareboat charter from Taiping and Sinopec TJ19 Shipping Leasing.
Seacon Shanghai intends to exercise its purchase option under the existing charter to acquire the vessel for approximately $16.5 million before the delivery date.
Once the title is transferred, the vessel will be delivered to the buyer on or before March 1, 2026.
The company said the consideration of $26.7 million was determined through arm’s length negotiations and market analysis of comparable second-hand general cargo ships.
A deposit of $2.67 million is payable into an escrow account within three banking days of the agreement.
The group expects to record a gain of approximately $6 million from the disposal, based on the vessel’s expected net asset value of $20.3 million at delivery.
Seacon noted that net proceeds will be used to finance potential vessel acquisitions and for general working capital.