HK Stock Market Move | SEACON (02409) rises over 6% on plan to sell 100% equity of SEACON subsidiary and enter into a time charter arrangement.

SEACON (02409) rose over 6%, up 6.07% as of press time, at HK$4.895, with a turnover of HK$443,000. On the news front, SEACON announced that on October 1, 2026, the company, Seacon Shipping, and the buyer Cetus Maritime Holdings Limited (an exempted company incorporated under the laws of the Cayman Islands) entered into the agreement, pursuant to which: the company and Seacon Shipping agreed to sell, and the buyer agreed to purchase, 100% equity interest in the SEACON subsidiaries, which hold interests in the first group of vessels; and the company and Seacon Shipping agreed to procure their respective subsidiaries (as owners) to enter into time charter arrangements with the buyer (or its respective designated subsidiaries) (as charterers), for a total consideration of US$134 million. The directors believe that the disposal represents an opportunity to sell the vessels at a reasonable price, which will enable the group to improve its working capital position, further strengthen its liquidity, and provide funding for the acquisition of new vessels to optimize the group's fleet portfolio. The company will continue to monitor prevailing market conditions in the shipping industry, and monitor and adjust the group's fleet portfolio in a timely manner.