On December 28, Seacon Shipping Group Holdings Limited (hereinafter referred to as “Seacon Shipping Group”) issued an announcement regarding the “Major Transactions (1) Replacement of Six Shipbuilding Contracts; and (2) Finance Lease Arrangements for Six Vessels”.
The announcement disclosed that on December 26, 2025, Seacon Shipping, an indirect wholly-owned subsidiary of Seacon Shipping Group, entered into a replacement agreement with the seller, the seller’s agent, and the previous buyer. Pursuant to this agreement, the previous buyer agreed to transfer all rights and obligations under the shipbuilding contract to Seacon Shipping at zero consideration. The previous buyer did not make any installments under the original shipbuilding contract. Upon completion of the replacement, except for the amendments set out in the replacement agreement, the shipbuilding contract continues to be in full force and effect, pursuant to which Seacon Shipping Group agreed to purchase, and the seller agreed to sell, six vessels for a total consideration of US$198.6 million, with a unit price of US$33.1 million.
According to the announcement, the aforementioned six vessels are six 63,800 dwt bulk carriers scheduled for construction, with deliveries planned between January 30, 2027, and November 30, 2027. The seller is Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (Nantong Xiangyu SOE). The previous buyer was a Marshall Islands company jointly owned by Seacon Shipping Group and Aurora Ships, each holding a 50% stake.
According to its official website, Seacon Shipping was established in 2012 as an integrated shipping service provider dedicated to delivering comprehensive one-stop shipping solutions across the maritime industry value chain.
Based on a Frost & Sullivan report, Seacon Shipping ranked first among China-headquartered ship management service providers in terms of third-party owned vessels under management in 2021. With a total fleet capacity of approximately 1.26 million deadweight tons under its control and an international dry bulk fleet capacity of 1.15 million deadweight tons, Seacon Shipping ranks as the fifth-largest shipping service company and the fifth-largest dry bulk shipping company headquartered in China.