Seacon Shipping Group has announced that its Singapore subsidiary entered into two shipbuilding contracts with Tsuneishi Group Zhoushan Shipbuilding to acquire two bulk carriers for $66 million.
The deal involves the construction of a 26,700 GT bulk carrier scheduled for completion in 2028, and a vessel of identical tonnage set for 2030.
Each vessel costs $33 million, with payments structured across five instalments starting with $3.3 million upon contract signing and concluding with $19.8 million upon delivery.
Seacon stated that it expects to finance the acquisition using internal resources alongside external financing from financial institutions.
Performance under the contracts will be guaranteed by Seacon Shipping Group for the buyer and by Japan's Tsuneishi Shipbuilding for the seller. The shipbuilder is 66 per cent owned by Tsuneishi Shipbuilding and 34 per cent owned by Yangzijiang Shipbuilding Holdings.
Seacon Shipping Group noted that the acquisition aligns with its strategy of phasing out older controlled vessels and expanding fleet capacity.