SEACON (02409) plans to sell an affiliated bulk carrier for $22.70 million.

SEACON (02409) announced that on November 5, 2025, the seller (an indirect wholly-owned subsidiary of the Company) and the buyer entered into an agreement, whereby the seller agreed to sell and the buyer agreed to purchase the vessel (a bulk carrier with a gross tonnage of 104,700 tons built in 2006) for a maximum consideration of US$22.7 million. The vessel is currently leased to the seller by the owner under a bareboat charter. The seller intends to purchase the vessel at the purchase option price before the delivery date by exercising the purchase option under the bareboat charter terms. The vessel intended to be purchased by the seller through the exercise of the purchase option shall be further delivered to the buyer in accordance with the agreement. The sale and exercise of the purchase option are in line with the Group's ongoing strategic objective to maintain a balanced fleet composition to optimize its fleet. The directors believe that the sale presents an opportunity to sell the vessel at a reasonable price, which will enable the Group to improve its operating cash flow, further enhance its liquidity, and provide funding for the acquisition of new vessels to optimize the Group's fleet composition. The Company will continue to monitor the current market conditions in the shipping industry and adjust the Group's fleet composition accordingly.