China’s Seacon Shipping has bolstered its bank balance by declaring a purchase option on an MR tanker and quickly selling it on.
Brokers reported the Hong Kong-listed shipowner buying the 34,800-dwt Golden Lavender (built 2022) out of a lease held by AVIC International Leasing in China for an undisclosed amount.
A day later, the company is said to have flipped the vessel to Laurent Cadji-led Union Maritime in the UK for $36m.
The vessel, constructed at Fujian Mawei Shipbuilding, is valued at $32.85m by VesselsValue.
Seacon confirmed Union Maritime was the buyer of the vessel at $36m in a stock exchange release.
The tanker was bought by Seacon from the fleet of liquidated Xihe Holdings of Singapore as a resale in December 2021, when it was called the Ocean Lax.
It was sold to AVIC Leasing in February 2022, with a charter back to Seacon.
A sister vessel, the 34,800-dwt Dictador (built 2019), was sold to Union Maritime for about $29m to $30m in October 2023.
The tanker, now the Watson, was acquired from Pioneer Tankers of Singapore, after having also been purchased from Xihe.
Both Union Maritime and Seacon have been contacted for comment.
Expanding orderbooks
Union Maritime is reported to have added two other secondhand tankers this year, a small handysize and an MR1, while continuing to add to its product tanker newbuilding orderbook.
Earlier this year, Seacon said in a filing that it is spending $30.1m on a new 18,500-dwt product oil/chemical carrier at Wuhu Shipyard for delivery before the end of 2025.
The deal meant the owner spent $339m on nine tanker newbuildings in a month.
The company said it received a quote from another shipyard at a lower price but for delivery in 2026.
Seacon has four MR2s and six smaller clean tankers on order in total.
The group owns 51 ships, including bulkers, container ships and eight tankers up to suezmax size.
In addition, Seacon is awaiting delivery of the 17,100-dwt tanker Golden Orchid (built 2009), acquired from Zhejiang Zheyin Financial Leasing.
