Seacon Shipping Group

Qingdao-based and Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has successfully secured financing for two handysize bulk carriers currently under construction at Tsuneishi Shipbuilding. The company has entered into a $63.4 million sale and leaseback agreement with Suyin Financial Leasing, which is affiliated with the Bank of Jiangsu. This deal pertains to the 42K DWT handysize bulk carriers that Seacon Shipping Group Ltd ordered in April 2023 for approximately $31 million each. Under the terms of the agreement, Seacon Shipping Group Ltd will charter in the newbuild handysize bulk carriers for a period of 10 years following their delivery in June and September 2025. Additionally, the company will have the option to purchase the vessels during the charter period. This financing strategy is consistent with Seacon Shipping Group Ltd’s approach, as most of its newbuilding projects have been financed through similar sale and leaseback transactions. In a related development, in June 2024, Seacon Shipping Group Ltd finalized another deal involving entities controlled by AVIC Industry-Finance Holdings for a sale and leaseback of a quartet of 18K DWT chemical tankers, also under construction, at Fujian Southeast Shipyard. Each of these vessels was valued at about $27.5 million. Operations for Seacon Shipping Group Ltd’s expanding fleet are managed by its subsidiary, Seacon Ship Management Company. This period of active financing and fleet expansion reflects a strong growth trajectory for Seacon Shipping Group Ltd since its listing on the Hong Kong Stock Exchange, showcasing its ambitious strategy to diversify and enhance its operational capabilities in the shipping industry. 4-July-2024

 

Qingdao-based and Hong Kong-listed Seacon Shipping Group Ltd has been making significant strides in the tanker industry, having invested nearly $700 million in this sector while also considering opportunities in the gas market. Since its initial public offering in March 2023, Seacon Shipping Group Ltd has actively engaged in major newbuilding contracts and the acquisition of secondhand vessels to expand into the tanker market. The company, primarily known as a bulker operator and third-party ship manager, has reportedly spent approximately $637 million on newbuildings and over $40 million on acquiring three secondhand chemical tankers. Now focusing on securing long-term contracts for its newly expanded fleet, Seacon Shipping Group Ltd is also exploring potential ventures into the gas sector. All operations for Seacon Shipping Group Ltd’s fleet are currently managed by its subsidiary, Seacon Ship Management Company. This busy period since the company’s listing on the Hong Kong Stock Exchange signifies a robust growth trajectory and an ambitious diversification strategy. 2-May-2024

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd is expanding its maritime portfolio by venturing into the tanker market with its inaugural orders for tankers. Seacon Shipping Group Ltd has entered into an agreement with Fujian Southeast Shipbuilding for the construction of four chemical tankers, each with a deadweight of 18K DWT, at a cumulative cost of $129.2 million. Following its IPO (initial public offering) in March 2023, Seacon Shipping Group Ltd has been strategically renewing its fleet, transitioning from older ships to newer ones. These newly ordered tankers are scheduled for delivery from July 2025 to May 2026. Seacon Shipping Group Ltd has cited the ongoing unrest and disturbances in oil-producing countries in the Middle East since October 2023 as a catalyst for increased demand in oil transportation. This heightened demand is mirrored in the notable increase of the Baltic Clean Tanker Index beginning from the Q3 2023. 19-February-2024

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has made a significant expansion to its fleet by ordering four additional 62K DWT multipurpose dry cargo ships from Huanghai Shipbuilding. This order is part of a deal with the leasing arm of China Merchants. Chinese shipowner and operator Seacon Shipping Group Ltd, which is listed on the Hong Kong Stock Exchange, has entered into an agreement with subsidiaries of China Merchants Financial Leasing. Under this agreement, Seacon Shipping Group Ltd will bareboat charter the newbuilds for a period of up to 15 years. These vessels are scheduled for delivery in the fourth quarter of 2025, with each ship priced at approximately $41.5 million. Notably, the agreement includes purchase options for Seacon Shipping Group Ltd. Initially, the charter is set for a three-year term, and Seacon Shipping Group Ltd has the opportunity to extend this period. If the extension options are not exercised, Seacon Shipping Group Ltd will proceed to purchase the ships directly from the shipowning entities of China Merchants. In addition to this new order, Seacon Shipping Group Ltd, based in Qingdao, has also arranged a similar sale and leaseback financing structure with Hong Kong-incorporated units of China Merchants for the first two 62K DWT ships. These ships were previously ordered at Huanghai and are expected to be delivered by Q4 2024. This strategic move by Seacon Shipping Group Ltd indicates a robust commitment to expanding and modernizing its fleet, utilizing innovative financing solutions like sale and leaseback arrangements. Such deals provide flexibility in fleet management and financial planning, allowing shipping companies to grow their operations while managing capital expenditures effectively. The use of bareboat charters coupled with purchase options also offers a versatile approach to fleet expansion, balancing operational needs with financial prudence. 24-December-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has recently acquired two chemical and product tankers for a total of $28 million. Chinese shipowner and operator Seacon Shipping Group Ltd is spending $14 million each on the MT Kenrick and MT Enford, both 2012-built tankers from Taizhou Sanfu and previously linked to London-based Union Maritime. In an interesting arrangement, London-based Union Maritime will charter back these MT Kenrick and MT Enford for two years at a daily rate of $16,250, with an option to extend for another year at $16,500 per day. Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has been active in other transactions as well. Seacon Shipping Group Ltd completed a sale and leaseback agreement with Bank of Beijing Financial Leasing for the 13K DWT general cargo ship MV Seacon Yokohama. MV Seacon Yokohama deal, valued approximately $21 million, involves a 10-year bareboat charter. Furthermore, Seacon Shipping exercised a purchase option with Bank of Communications Financial Leasing (BoCom Leasing) for the 2010-built supramax bulker MV Seacon Dalian. The vessel was then sold to PT Cakra Buana Resources Energi, an Indonesian firm, for $12.8 million. Additionally, Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd expanded its fleet with the 2009-built 17K DWT chemical tanker MT Chem Lyra. This acquisition was made through a 60-month bareboat deal, which includes a mandatory purchase at the end and an early purchase option, amounting to approximately $14.6 million in total. Currently, the entire fleet of Seacon Shipping Group Ltd is managed by its subsidiary, Seacon Ship Management Company. 10-November-2023

 

The Qingdao-based and Hong Kong-listed Seacon Shipping Group Ltd has acquired two chemical and product tankers for a total of $28 million. Seacon Shipping Group Ltd is allocating $14 million each for the 2012-built vessels, MT Kenrick and MT Enford, constructed at Taizhou Sanfu, and currently affiliated with the London-based Union Maritime Limited (UML). The delivery of both vessels is scheduled for the fourth quarter of 2023. In conjunction with the acquisition, Union Maritime Limited (UML) has agreed to a charter arrangement for the 16K DWT pair of chemical and product tankers, securing them for two years at a daily rate of $16,250, with the option to extend for an additional year at $16,500 per day. Seacon Shipping Group Ltd has also recently engaged in a sale and leaseback transaction with Bank of Beijing Financial Leasing involving the 13K DWT general cargo vessel MV Seacon Yokohama, valued at $21.25 million, under a 10-year bareboat charter. Furthermore, Seacon Shipping Group Ltd exercised a purchase option for the 2010-built supramax bulk carrier MV Seacon Dalian with Bank of Communications Financial Leasing (BoCom Leasing), proceeding to sell it to PT Cakra Buana Resources Energi of Indonesia for $12.8 million. Additionally, Seacon Shipping Group Ltd has expanded its fleet with the acquisition of the 2009-built 17K DWT chemical tanker MT Chem Lyra on a 60-month bareboat contract that concludes with a mandatory purchase, alongside an early purchase option, totaling approximately $14.5 million. 9-November-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd is preparing to transfer ownership of 2010 built supramax bulk carrier 57K DWT MV Seacon Dalian which is currently under a bareboat charter agreement. This transfer of ownership is being facilitated through its subsidiary Golden Orchid, which will exercise a purchase option for MV Seacon Dalian from Bank of Communications Financial Leasing’s (BoCom Leasing) shipowning entity, Xiang B5 HK International Ship Lease. Following the purchase, Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd plans to sell the 2010 built supramax bulk carrier 57K DWT MV Seacon Dalian to Indonesia’s PT Cakra Buana Resources Energi for around $12.5 million. Seacon Shipping Group Ltd had chartered the MV Seacon Dalian on a bareboat basis for five years starting in November 2019. This sale of the COSCO Zhoushan-built MV Seacon Dalian is aligned with Seacon Shipping Group Ltd’s ongoing strategy to optimize its fleet by gradually phasing out older bulk carriers under its control. The proceeds from the sale will be used for potential ship acquisitions and general working capital. Since Seacon Shipping Group Ltd’s initial public offering (IPO) in March, Seacon Shipping Group Ltd has been actively seeking to add newer ships to its fleet. With bulk carriers currently under construction in China and Japan, Seacon Shipping Group Ltd anticipates increasing its controlled fleet to approximately 35 ships by the end of 2025. Additionally, Seacon Shipping Group Ltd recently acquired the 2009 built chemical tanker MT Chem Lyra through a 60-month bareboat agreement, which includes an option to purchase at the end of the charter, valued at around $14.5 million in total. At present, all the vessels within Seacon Shipping Group Ltd’s fleet are under the management of its subsidiary, Seacon Ship Management Company. 6-November-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has garnered additional funds through the sale and leaseback of one of its newly constructed bulk carriers. Seacon Shipping Group Ltd has finalized an agreement with Bank of Beijing Financial Leasing. This deal involves selling the 13K DWT general cargo ship, MV Seacon Yokohama, for around $21 million. MV Seacon Yokohama is set to be delivered this month and will be leased back to Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd for a decade. There’s an option for Seacon Shipping Group Ltd to purchase the MV Seacon Yokohama after the fourth year, and a commitment to buy MV Seacon Yokohama at the charter’s conclusion. Seacon Shipping Group Ltd mentioned in a stock exchange filing that the net earnings from this transaction will be allocated towards potential ship acquisitions and will also serve as the Seacon Shipping Group Ltd’s general working capital. Earlier in June 2023, Seacon Shipping Group Ltd entered into a $27 million sale and leaseback agreement with a Singaporean subsidiary of China’s Bocomm. This deal pertained to one of its kamsarmax bulk carriers, which is scheduled for delivery from Guangzhou Wenchong by the end of October 2023. Since its Initial Public Offering (IPO) in March 2023, Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has been strategizing to enhance its fleet. The company aims to phase out older bulk carriers under its control and replace them with newer bulk carriers. With ongoing shipbuilding projects in China and Japan, Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd anticipates its fleet to grow from 24 vessels as of June’s end to 35 by the close of 2025. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages all the fleet. 26-September-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd continues its progressive march towards a grander fleet, recently sealing an agreement for two (2) 40K DWT handysize bulk carrier new buildings from the renowned Japanese shipbuilder, Namura. Seacon Shipping Group Ltd has allocated an impressive sum of approximately $67 million for each 40K DWT handysize bulk carrier new building. Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd will take the delivery of the handysize bulk carrier new buildings between August 1, 2025, and October 31, 2025. This recent procurement signifies the seventh venture into newbuild undertakings since its monumental $52 million listing in March of this annum. This includes two (2) 62K DWT ultramax bulk carrier new buildings from Huanghai Shipbuilding, one (1) 13K DWT general cargo vessel from Murakami Hide Shipbuilding, and two (2) handysize bulk carrier new buildings from Tsuneishi Shipbuilding. Aligning seamlessly with the Seacon Shipping Group Ltd’s persistent strategy, the addition of these bulk carrier new buildings aims to rejuvenate its fleet, phasing out the elder vessels in a controlled manner and supplanting them with state-of-the-art ones, thus expanding the controlled vessel fleet, as articulated by Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd in an official document. Accompanied by other naval marvels presently under crafting in China and Japan, Seacon Shipping Group Ltd’s fleet is projected to burgeon from 24 vessels as of this past June to an impressive 35 by the culmination of 2025, thereby amplifying the carrying capacity to an estimated 1.8 million DWT. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 117 ships. 5-September-2023

 

Columbia Shipmanagement (CSM) has forged an agreement to oversee the fleet of the Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd. The vessels of the Seacon Shipping Group are poised to operate from the Hellenic bureau of Columbia Shipmanagement (CSM), as part of an endeavor to introduce managerial digital sophistication to the Chinese realm. Columbia Shipmanagement (CSM) has consummated an accord to manage the fleet of shipowner and operator Seacon Shipping Group. This symbiotic concord dictates that the Grecian establishment of Columbia Shipmanagement (CSM) will administer the vessels both owned and operated by the Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages all the fleet and offers management services to third party shipowners. Zhao Yong presides as the president of Seacon Ship Management. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 115 ships. 1-September-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has engaged in a sale and leaseback agreement with a Singapore-based subsidiary of China’s BOCOM for one of its kamsarmax bulk carriers currently under construction. Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd is divesting the 85,000 DWT (deadweight tonnage) kamsarmax bulk carrier, scheduled to be delivered from Guangzhou Wenchong Shipyard by October 31, 2023, for around $27 million. 85,000 DWT (deadweight tonnage) kamsarmax bulk carrier will be provisionally chartered to Seacon Shipping Group Ltd’s Liberia-incorporated subsidiary for a duration of 120 months, during which the company will have the opportunity to repurchase the kamsarmax bulk carrier after three (3) years. Upon delivery, the Guangzhou Wenchong Shipyard will receive approximately $18 million from the transaction, with the remaining balance disbursed to Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd. These funds will be utilized for potential vessel acquisitions and general working capital purposes. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 115 ships. 20-June-2023

 

Qingdao-based Hong Kong-listed shipowner and operator Seacon Shipping Group Ltd has expanded its order book by securing a new building bulk carrier at Murakami Hide Shipbuilding in Japan, showcasing its continuous growth. Seacon Shipping Group Ltd has selected Murakami Hide Shipbuilding to construct a general cargo vessel with a capacity of 13,500 DWT (deadweight tons). Murakami Hide Shipbuilding will deliver the ship by June 2026, and the total cost amounts to nearly $16.8 million. In a previous deal, Seacon Shipping Group Ltd signed a contract with Tsuneishi Shipbuilding to commission the construction of two (2) handysize bulk carriers. The estimated price for each handysize bulk carrier was approximately $31.7 million. Notably, this recent order represents the Seacon Shipping Group Ltd’s fifth newbuilding project since the company’s listing in March 2023. Among these projects is the construction of two MPP (multipurpose) dry cargo vessels at Huanghai Shipbuilding. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages all the fleet and offers management services to third party shipowners. 29-May-2023

 

Qingdao-based shipowner and operator Seacon Shipping Group Ltd ordered two (2) handysize bulk carrier new buildings for around $63 million at Tsuneishi Shipbuilding. Hong Kong Stock Exchange-listed Chinese shipowner and operator Seacon Shipping Group Ltd will take the delivery of two (2) 42K DWT handysize bulk carrier new buildings in 2025. Seacon Shipping Group Ltd has declared through an official statement made to the Hong Kong Stock Exchange, its intention to procure vessels from a Japanese shipbuilder. The said vessels will be purchased for a grand sum of $31.6 million each. Payment will be spread over four instalments, including a final heavy payment of $19m per ship on delivery. Qingdao-based shipowner and operator Seacon Shipping Group Ltd said it would fund the investment through internal resources and external financing. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 112 ships. 1-May-2023

 

Qingdao-based shipowner and operator Seacon Shipping Group Ltd ordered two (2) MPP (multi-purpose ships) new buildings for around $83 million. Seacon Shipping Group Ltd’s two (2) MPP new building orders form part of the company’s fleet renewal and expansion effort. Last month, Seacon Shipping Group Ltd raised up to $62 million on Hong Kong Stock Exchange IPO (Initial Public Offering). Seacon Shipping Group Ltd is wasting no time in using funds the company raised from its IPO (Initial Public Offering). Recently, Chinese shipowner and operator Seacon Shipping Group Ltd ordered two (2) ultramax bulk carrier new buildings at Huanghai Shipbuilding. Seacon Shipping Group Ltd will take the delivery of the ships in Q4 2024. Seacon Shipping Group Ltd expressed the newbuildings are in line with its plan of fleet expansion and renewal as the new ships will improve the company’s competitiveness. Currently, Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 112 ships. 17-April-2023

 

Qingdao-based shipowner and operator Seacon Shipping Group Ltd schedules to raise up to $62 million on Hong Kong Stock Exchange IPO (Initial Public Offering). Chinese shipowner and operator Seacon Shipping Group Ltd is going public and will be listed on the Hong Kong Stock Exchange. Seacon Shipping Group Ltd designs to issue as many as 125 million shares at the price of $0.41 to $0.49 per share. Seacon Shipping Group Ltd will allocate funds raised on Hong Kong Stock Exchange IPO (Initial Public Offering) to fleet expansion and opening new overseas offices. Furthermore, Seacon Shipping Group Ltd plans to expand the company’s ship-management business. Recently, Qingdao-based shipowner and operator Seacon Shipping Group Ltd took delivery of 2023 built kamsarmax bulk carrier 85K DWT MV Seacon Nola from Huangpu Wenchong Shipbuilding. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 110 ships. 16-March-2023

 

Chinese dry bulk operator, Ningbo Marine, has announced its acquisition of MV Horizon Ruby, a panamax bulker with a capacity of 76,000 DWT (deadweight tons) built in 2013. MV Horizon Ruby was procured from Qingdao-based shipowner and operator Seacon Shipping Group Ltd for a substantial sum of $14.62 million. Ningbo Marine is currently engaged in a comprehensive fleet optimization program. Additionally, the company has recently commissioned the construction of three bulk carriers with a capacity of 49,800 DWT (deadweight tons) each from China Merchant Jinling Shipbuilding. 12-January-2021

 

Qingdao-based shipowner and operator Seacon Shipping Group Ltd has initiated a contract with Huangpu Wenchong Shipbuilding, an affiliate of CSSC, for the construction of two (2) kamsarmax bulk carriers weighing 85,000 DWT (deadweight tons). This order represents an exercise of the Chinese shipowner and operator Seacon Shipping Group Ltd’s option under a 4+4 newbuilding agreement signed between Seacon Shipping Group Ltd and the Huangpu Wenchong Shipbuilding in 2019. The first four (4) kamsarmax bulk carriers are scheduled for delivery in 2021, while the remaining two (2) kamsarmax bulk carriers are anticipated to be completed by 2023. Seacon Shipping Group Ltd is currently engaged in a comprehensive fleet optimization program, encompassing the sale of aging vessels and the procurement of contemporary secondhand ships and newbuildings. Chinese shipowner and operator Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company holds the distinction of being the largest third-party shipmanagement company in China. Throughout this year, the Seacon Shipping Group Ltd has successfully acquired four (4) secondhand bulk carriers, including three (3) capesize bulk carriers and one (1) panamax bulk carrier, thereby augmenting their fleet to approximately 40 vessels. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages all the fleet and offers management services to third party shipowners. 26-December-2020

 

Chinese shipowner and operator Seacon Shipping Group Ltd acquired 2008 built capesize bulk carrier 207K DWT MV Shin-Ei for around $19 million from Japanese shipowner NS United. Seacon Shipping Group Ltd boosts its presence in the capesize bulk carrier segment. Since 2019, this is the fourth capsize bulk carrier purchase of Seacon Shipping Group Ltd. Seacon Shipping Group Ltd essentially a handymax and panamax bulker operator, but entered into capesize segment. In 2008, 207K DWT MV Shin-Ei was built at Universal Shipyard. MV Shin-Ei is due for dry-docking in January 2021. Essentially, Qingdao-based Seacon Shipping Group Ltd is a ship-manager, though some of the bulk carriers in the company operates are owned by other Chinese corporations. In August 2020, Chinese shipowner and operator Seacon Shipping Group Ltd acquired 2005 built capesize bulk carrier 203K DWT MV Pacific Oak for around $15 million from Japanese shipowner Miyazaki Sangyo Kaiun. In 2019, Seacon Shipping entered into capesize sector with the acquisition of 2002 built capesize bulk carrier 170K DWT MV Seacon Brazi (ex MV Shinyo Endeavour) for around $11 million from Hong Kong-based shipowner Shinyo International. In February 2020, Chinese shipowner and operator Seacon Shipping Group Ltd acquired 2003 built capesize bulk carrier 171K DWT MV Alam Cetus (ex MV Aquajoy) for around $11 million from Monaco-based shipowner Goodbulk. Seacon Shipping Group Ltd ordered four (4) new-building kamsarmax bulk carriers at CSSC Huangpu Wenchong Shipbuilding. Currently, Qingdao-based Seacon Shipping Group Ltd has a fleet of 22 bulk carriers and 15 tankers. Seacon Shipping Group Ltd’s subsidiary Seacon Ship Management Company manages around 100 ships. 19-October-2020

 

Chinese shipowner and operator Seacon Shipping Group Ltd has acquired 2005 built capesize bulk carrier 203K DWT MV Pacific Oak from Japanese shipowner Miyazaki Sangyo Kaiun for around $15 million. MV Pacific Oak will be the third capesize bulk carrier of Chinese shipowner and operator Seacon Shipping Group Ltd. Essentially, Seacon Shipping has been operating in handymax and panamax segment. Seacon Shipping has already secured employment contract for MV Pacific Oak. In 2019, Seacon Shipping acquired 2002 built capesize bulk carrier 170K DWT MV Seacon Brazil (ex MV Shinyo Endeavour). In February 2020, Seacon Shipping Group Ltd acquired 2003 built capesize bulk carrier 171K DWT MV Alam Cetus (ex MV Aquajoy). In 2019, Seacon Shipping Group Ltd acquired 15 bulk carriers. In 2018, Seacon Shipping acquired 7 bulk carriers. Furthermore, Seacon Shipping Group Ltd has ordered eight (8) kamsarmax bulk carriers at CSSC Huangpu Wenchong Shipbuilding. Currently, Seacon Shipping Group Ltd has a fleet of 46 ships. 2-August-2020

 

Chinese shipowner and operator Seacon Shipping Group Ltd acquired 2003 built capesize bulk carrier 175K DWT MV Aquajoy for around $10.5 million from GoodBulk Ltd. Seacon Shipping Group Ltd prepares to carry cargoes under COA (contracts of affreightment). Furthermore, Seacon Shipping Group Ltd does not plan to install an exhaust gas scrubber. Mainly, Chinese shipowner and operator Seacon Shipping Group Ltd is a handymax and panamax shipowner and operator. 2003 built capesize bulk carrier 175K DWT MV Aquajoy is the second capesize bulk carrier that Seacon Shipping Group Ltd has purchased. In 2019, Chinese shipowner and operator Seacon Shipping Group Ltd entered the capesize sector. Seacon Shipping acquired 2002 built capesize bulk carrier 170K DWT MV Seacon Brazil (ex MV Shinyo Endeavour) for around $11 million from Shinyo International. Chinese shipowner and operator Seacon Shipping chartered out MV Seacon Brazil (ex MV Shinyo Endeavour) to Daelim Corp for one year to carry iron ore from Brazil to China. Chinese shipowner and operator Seacon Shipping Group Ltd is optimistic that the shipping market will improve. The dry bulk market has been affected by the post-coronavirus recession. At the end of 2019, Seacon Shipping Group Ltd ordered kamsarmax bulk carrier newbuildings at SSC Huangpu Wenchong Shipbuilding. Seacon Shipping Group Ltd ordered four (4) firm kamsarmax bulk carrier newbuildings and four (4) options. Seacon Shipping Group Ltd will start getting delivery of kamsarmax bulk carrier new buildings in 2022. Chinese shipowner and operator Seacon Shipping Group Ltd is paying around $32 million for each kamsarmax bulk carrier new building. Seacon Shipping Group Ltd has extended the company’s owned fleet by more than one-third in 2019 via secondhand assets and newbuildings. In 2019, Seacon Shipping acquired 14 bulk carriers. Guo Jinkui-led shipowner and operator Seacon Shipping Group Ltd has benefited from low ship prices to extend the company’s fleet. Aside from its shipowning business, Seacon Shipping Group Ltd is the third-largest ship manager in China. Currently, Seacon Shipping Group Ltd has around 120 ships under the company’s management. 29-February-2020

 

Chinese shipowner and operator Seacon Shipping Group Ltd has acquired 2013 built supramax bulk carrier 56K DWT MV Solar Jade and 2013 built supramax bulk carrier 56K DWT MV Solar King for around $12 million each from South Korean shipowner and operator Polaris Shipping. MV Solar Jade and MV Solar King were built at Taizhou Sanfu Shipyard. Polaris Shipping has exited the supramax bulker sector by selling its only two such ships to Seacon Shipping. MV Solar Jade and MV Solar King were chartered out to steel mill Dongkuk for a long-term charter. Chinese shipowner and operator Seacon Shipping Group Ltd is one of the more active Chinese companies in the secondhand market. Seacon Shipping Group Ltd is not only acquiring resale bulk carriers, Seacon Shipping Group Ltd is also selling some of its vintage bulk carriers. Chinese shipowner and operator Seacon Shipping Group Ltd acquired eight (8) secondhand bulk carriers in 2018 and four (4) secondhand bulk carriers in 2017. On the other hand, Seacon Shipping Group Ltd sold four (4) bulk carriers in 2018. 12-March-2019

 

Chinese shipowner and operator Seacon Shipping Group Ltd’s 2012 built handyman dry bulk carrier 40K DWT MV Glory Hongkong has experienced severe water ingress off Finland. MV Glory Hongkong was near Finland, en route to St Petersburg when it made an emergency call. MV Glory Hongkong’s crewmembers announced 7 meters of water in the engine room. MV Glory Hongkong’s 22 crewmembers are safe and engine room doors were tightly closed. Chinese shipowner and operator Seacon Shipping Group Ltd have been negotiating a towing contract with a salvor. 9-March-2018

 

Chinese shipowner and operator Seacon Shipping Group Ltd has ordered two (2) new-building kamsarmax dry bulk carriers and acquired two (2) ulratamax dry bulk carriers from the resale. Seacon Shipping Group Ltd ordered two (2) new-building kamsarmax dry bulk carriers from Chinese CSSC Huangpu Shipyard for 2019 delivery. Seacon Shipping Group Ltd also acquired two (2) ultramax dry bulk carriers from Chinese finance company. Chinese shipowner and operator Seacon Shipping Group Ltd is the biggest private shipping company. Seacon Shipping Group Ltd has a fleet of 30 owned or bareboat-chartered ships. Subsidiary Seacon Ship Management Company manages 86 ships. 28-February-2018