Seacon cashes in on supramax sale

Hong Kong-listed Seacon Shipping has offloaded one of its supramax bulk carriers, netting a profit of more than $6m from the deal with an Indonesian buyer.

The Qingdao-based diversified owner and operator has agreed a $13.8m sale of the 2010-built Seacon Yantai to PT Primatama Energi Mandiri.

The 57,000 dwt Cosco Zhoushan-built vessel should change hands by October 15, delivering a net gain of $6.5m, the company said in a filing, adding that it would use the proceeds to finance potential acquisition of vessels and as general working capital.

Records show the ship has been under a bareboat deal with Bank of Communications Financial Leasing, with purchase options attached.

Earlier this month, the company sealed a sale and leaseback deal with Bank of Jiangsu-controlled Suyin Financial Leasing for a pair of handysize bulk carriers under construction in Japan.

Seacon will charter-in the newbuilds for 120 months once delivered in June and September 2025 and have purchase options available during the charter period.