SEACON (02409) subsidiary plans to purchase six ships for $198.6 million.

SEACON (02409) issued an announcement on December 26, 2025, stating that the company's indirect wholly-owned subsidiary Seacon Shipping entered into a replacement agreement with the seller, seller's agent, and previous buyer. Under this agreement, the previous buyer agreed to transfer all rights and obligations under the shipbuilding contract to Seacon Shipping at zero cost. The previous buyer did not make any installment payments under the original shipbuilding contract. After the replacement, the shipbuilding contract will continue to be fully effective and binding, with the modifications specified in the replacement agreement. Seacon Shipping agreed to purchase and the seller agreed to sell six vessels for a total price of 198.6 million dollars. On December 26, 2025, Seacon Shipping and six lessees (being corporate indirect wholly-owned subsidiaries) entered into financing lease arrangements with six relevant owners, where (1) Seacon Shipping agreed to sell the relevant vessels to the respective owners for a price of 28.135 million USD each, according to the corresponding memorandum of agreement; (2) the owners agreed to lease the vessels to the respective lessees under the bareboat charter agreements; (3) the companies entered into guarantee agreements with the owners as beneficiaries.