SEACON Shipping Group Holdings Limited (SEACON) (02409) has announced a significant transaction involving one of its vessels.

Following trading hours on the Hong Kong Stock Exchange on June 19, 2026, the company's indirect wholly-owned subsidiary, Seacon Hamburg Ltd, entered into a formal agreement with Belle Shipping Co.

Under the terms of the agreement, the seller, Seacon Hamburg Ltd, will sell the vessel to the buyer for a total consideration of $37.5 million.

The vessel in question, named Seacon Hamburg, is a bulk carrier with a gross tonnage of 48,785 tons that was constructed in the year 2023.

Currently, the ship is under a bareboat charter arrangement, leased to the seller by its owner.

The seller plans to exercise a purchase option under the charter terms to acquire the vessel from the owner prior to the delivery date specified in the sale agreement.

Once acquired through this option, the vessel will then be delivered to the buyer, Belle Shipping Co., as per the sale and purchase agreement.

This divestment and the associated exercise of the purchase option align with the group's ongoing strategy to maintain a balanced fleet portfolio for optimal operational efficiency.

The company's board believes the sale presents a favorable opportunity to divest the asset at a reasonable price.

The proceeds from the transaction are expected to enhance the group's working capital position, bolster its overall liquidity, and provide funding for potential acquisitions of new vessels to further optimize the fleet composition.

SEACON has stated it will continue to monitor prevailing market conditions in the shipping industry and will review and adjust its fleet portfolio as appropriate in a timely manner.