Seacon Shipping invests $39.2m for two tanker newbuilds

The deals signed for two 4,981-gross-tonnage tankers under 2026 build schedule.

Hong Kong’s Seacon Shipping Group Holdings has agreed to acquire two chemical and oil tankers for a total of $39.2m (HK$307.33m) as it expands and renews its controlled fleet.

The company said in a bourse filing that its indirect wholly owned subsidiary signed two agreements with the seller on 26 June to purchase the Golden Gerbera and Golden Osmanthus.

Each vessel has a gross tonnage of 4,981 and is scheduled to be built in 2026, with the balance payable upon delivery of the vessel or no later than four months after payment of the deposit, whichever is later, Seacon said.

Seacon will pay $19.6m (HK$153.66m) for each vessel and expects to fund the acquisition through internal resources and external financing from financial or other institutions.

The company said it determined the purchase price through arm’s length negotiations, taking into account the transaction price of a similar vessel of about $25.5m (HK$199.92m) based on public market information and the seller’s service quality and industry reputation.

The acquisition supports its strategy to replace older vessels and expand its controlled fleet.

“The expansion of the Group’s controlled vessel fleet will enhance the Group’s capacity to undertake more customer requests,” it said.

Under Hong Kong listing rules, the transaction is classified as a discloseable transaction as the applicable percentage ratio exceeds 5% but is less than 25%.

(US$1 = HK$7.84)