Hong Kong-listed LC Logistics announced on December 30, 2025 that its subsidiary, Lehang Boundless, entered an agreement with Blue Anchor. Under the agreement, Lehang Boundless will novate all rights and obligations for a vessel to Blue Anchor.
The vessel is a large container ship with a capacity of 14,000 TEU, identified as hull number H2872. It is currently under construction, and the unaudited net book value as of December 9, 2025, is $43.44 million.
Blue Anchor will pay a total consideration of $170 million for the transaction. From this amount, $68.64 million is payable to Lehang Boundless, while $101.36 million will be paid directly to the shipyards.
The 2025 novation agreement was signed by Lehang Boundless, Blue Anchor, China Shipbuilding Trading Company, and Jiangnan Shipyard Group Company. This agreement substitutes Blue Anchor as the purchaser for the vessel currently under construction.
Blue Anchor is a Liberian company owned by Mediterranean Shipping Company (MSC).
The total $170 million consideration includes the original $144.8 million purchase price and a $25.2 million premium. This value was determined through arm's length negotiations and an independent valuation.
The vessel value was appraised at approximately $168.03 million as of November 9, 2026.
The company also referred to market reports indicating newbuilding prices for 15,000 TEU ships range from $160 million to $195 million.
The disposal is expected to generate a gain of approximately $20.1 million for the company. Net proceeds will be used to expand current business operations and supplement the company's cash flow.
