SEACON (02409) intends to lease three bulk carriers

SEACON (02409) announces that on October 16, 2025, after trading hours on the Stock Exchange of Hong Kong, (1) each charterer (being three indirect wholly-owned subsidiaries of the Company, SEACON ATLANTA LTD., SEACON BARCELONA LTD., and SEACON COLOMPO LTD.,) has entered into a bareboat charter with one of the owners, whereby the respective owner agrees to charter a vessel to the relevant charterer; and (2) the Group agrees to enter into guarantee documents, guarantees for the benefit of the owners, and a multiparty agreement. The owners are Sailing Zhongzhou No. 2 Leasing (Tianjin) Co., Ltd., Sailing Zhongzhou No. 3 Leasing (Tianjin) Co., Ltd., and Sailing Zhongzhou No. 4 Leasing (Tianjin) Co., Ltd. The vessels are all bulk carriers built under respective shipbuilding contracts with a deadweight of approximately 40400 dwt. The bareboat charter arrangements align with the Group's ongoing strategy, which aims to expand its controlled fleet by acquiring three bulk carriers, diversifying the Group's controlled fleet while maintaining capital flow. By acquiring these vessels, the Group's shipping capacity for bulk cargo will increase, enabling the Company to better meet market demand for its large equipment shipping services, generate additional income, and create more value and returns for shareholders.