Hong Kong-listed Seacon Shipping has entered into a sale and leaseback deal with a Singapore-based subsidiary of China’s BOCOM for one of its kamsarmax bulk carriers currently under construction, reports Splash247.
About the bulker
The Qingdao-based company is selling the 85,000 dwt vessel set to deliver from Guangzhou Wenchong by October 31, 2023, for $27m.
The bulker will be bareboat chartered to Seacon’s Liberia-incorporated subsidiary for a period of 120 months and the company will have the option to buy back the vessel after three years.
The deal will see close to $18m go to the shipyard after delivery, while the remaining balance will be paid to Seacon, and used to finance potential acquisition of vessels and as general working capital, the company said.
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Source: Splash247
