Newly listed Chinese owner Seacon Shipping Group has increased its acquisition power with a lease financing deal in Japan.
The company, which floated in Hong Kong in March, said it has sold the 13,500-dwt general cargo ship newbuilding Seacon Yokohama for $21.25m, with a bareboat charter back.
The ship was due to be delivered from Murakami Hide Shipbuilding in Japan this week.
The financier has not been named.
Seacon said the sales price takes into account the newbuilding cost of $16.4m.
The total amount of hire that Seacon will pay over the unspecified charter term is $11m.
The company has purchase options attached to the deal.
Seacon said the lease arrangement enables the group to “obtain additional working capital as well as financing for the acquisition of vessels”.
This is in step with its ongoing strategy to optimise operations by gradually phasing out older vessels and replacing them with newer units while expanding the fleet, added the company.
No candidates yet
Seacon said it had not yet identified any purchase candidates, however.
The March IPO raised $52m in Hong Kong.
The proceeds would be used to add vessels, set up overseas offices, expand its ship management business and develop digitalisation.
Seacon has 50 ships, mainly bulkers and tankers.
This includes six bulkers and two general cargo ships on order.
