Seacon Shipping Group Holdings has agreed to sell the 2023-built bulk carrier Seacon Tokyo to OBE Ships Maritime for $41.6 million. Under the agreement signed on July 20, the vessel will be delivered to the buyer on or before December 2.
The 36,570 GT vessel is currently chartered to Seacon Tokyo, a subsidiary of the shipping group, under a bareboat charter from Xiang T26 SG International Ship Lease.
Prior to delivering the bulk carrier, the subsidiary plans to acquire full ownership by exercising a purchase option for up to approximately $18.7 million.
Under the payment terms, OBE Ships Maritime will pay an $8.32 million deposit into an escrow account within three banking days of contract signing. The remaining balance must be pre-positioned in the escrow account no later than one banking day before the scheduled delivery date.
Seacon estimated a net gain of approximately $9.86 million from the transaction after tax and expenses, calculated against an expected net asset value of $30.09 million at delivery. The vessel recorded net profits of $1.61 million in 2024 and $1.4 million in 2025.
Seacon noted that the disposal allows it to sell the vessel at a reasonable price while strengthening its working capital position. Net proceeds from the transaction will be allocated towards potential vessel acquisitions and general working capital of the group.
