On November 5, 2025, the seller (an indirect wholly-owned subsidiary of SEACON (02409)) and the buyer entered into an agreement. The seller agreed to sell, and the buyer agreed to purchase, a bulk carrier built in 2006 with a gross tonnage of 104,700 tons, for a maximum consideration of $22.7 million.

The vessel is currently leased to the seller by the owner under a bareboat charter. The seller intends to exercise its purchase option under the charter terms to acquire the vessel at the agreed option price before the delivery date. Subsequently, the vessel will be delivered to the buyer as per the agreement.

This sale and the exercise of the purchase option align with the group’s ongoing strategy to maintain a balanced fleet composition for optimization. The board believes the sale presents an opportunity to divest the vessel at a reasonable price, improving the group’s working capital position, enhancing liquidity, and funding the acquisition of new vessels to further optimize the fleet.

SEACON will continue to monitor current market conditions in the shipping industry and adjust its fleet composition as needed.