SEACON (02409) plans to sell a vessel for $17.1 million.

SEACON(02409) announced that on October 17, 2025, the seller Seacon Manila Ltd (an indirect wholly-owned subsidiary of the company), the buyer BULK EXPORTS INTERNATIONAL INC., and the guarantor entered into an agreement. The seller agreed to sell and the buyer agreed to purchase the vessel (SEACON MANILA), a bulk carrier with a total tonnage of 21,168 tons built in 2016, for a price of $17.1 million. The vessel is currently leased by the owner to the seller under a bareboat charter. The seller will purchase the vessel at the purchase option price according to the terms of the bareboat charter. The seller is expected to deliver the vessel to the buyer through the exercise of the purchase option as per the agreement. The sale is in line with the group's ongoing strategic plan to maintain a balanced fleet composition to optimize its fleet. The directors believe that the sale offers an opportunity to sell the vessel at a fair price, which will improve the company's operating cash flow, strengthen its liquidity, and provide funds for the acquisition of new vessels to enhance the group's fleet composition. The company will continue to monitor the current market conditions in the shipping industry and adjust the fleet composition of the group accordingly.