On August 28, Seacon Shipping Group Holdings Limited (hereinafter referred to as “Seacon Shipping”) announced that it had recently entered into discussions with Cetus Maritime Holdings Limited (Cetus) regarding the sale of 13 vessels (the “potential disposal”). Details concerning the specific vessels involved in the transaction were not disclosed.
The announcement discloses that the transaction may be effected through the transfer of equity in the Seacon Shipping subsidiary that holds the aforementioned vessels. Under the Listing Rules of the Hong Kong Stock Exchange, the potential sale—if successfully concluded—would constitute a major transaction for Seacon Shipping.
Based on the agreed terms, the transaction value will be determined with reference to the net valuation of the 13 vessels; 30% of the amount will be paid in cash, while the remaining 70% will be settled via shares in Cetus or its affiliates.
As of the date of the announcement, Seacon Shipping and Cetus have not entered into any legally binding agreement regarding the potential sale, and uncertainty remains as to whether the transaction will ultimately proceed.
The proposed transaction with Seacon Shipping represents another significant consolidation move being advanced by Cetus. The company is primarily engaged in dry bulk shipping, operating and managing a global fleet of dry bulk vessels, and providing ship management and maritime chartering services.
Cetus was formed in 2023 through the merger of Asia Maritime Pacific and Hamburg Bulk Carriers; in 2024, it completed a merger with Chile’s Nachipa Corp, expanding its fleet to 65 vessels—comprising approximately 40 owned and 25 chartered ships.
In 2025, Cetus acquired the Australian company Rhumb Maritime to expand its commercial footprint in the small dry bulk and Handysize vessel sectors.
To date, Cetus operates a fleet of over 40 owned vessels with individual capacities ranging from 8,500 to 45,000 deadweight tonnes (DWT), bringing its total owned capacity to approximately 1.3 million DWT.