Intercontinental Shipping (02409) has entered into financing lease arrangements for seven vessels.

Chaikin Finance APP News, Intercontinental Shipping (02409) announced that on April 30, 2025 (after the trading hours of the Stock Exchange of Hong Kong), the seller (an indirectly wholly-owned subsidiary of the company), various lessees (indirect non-wholly-owned subsidiaries of the company), and the owner entered into a financing lease arrangement, whereby (i) the seller agreed to sell seven small bulk carriers to the owner for a total consideration of 57.33 million euros (equivalent to approximately 507 million Hong Kong dollars) in accordance with the respective memorandum of agreements; (ii) the owner agreed to lease the vessels to the various lessees under the respective bareboat charter agreements; and (iii) the company entered into a guarantee agreement with the owner as the beneficiary.