FINWIRES · TerminalLIVE
FINWIRES

Seacon Shipping to Sell Bulk Carrier, Buy Two New Vessels; Shares Down 4%

By

Seacon Shipping (HKG:2409) agreed to sell the Seacon Tokyo bulk carrier for $41.6 million and separately ordered two new bulk carriers for $66 million, according to Monday Hong Kong bourse filings.

The company will first exercise an option to acquire the Seacon Tokyo for up to $18.7 million before delivering it to the buyer by Dec. 2.

It expects to record a gain of about $9.86 million from the disposal, with proceeds earmarked for vessel acquisitions and general working capital.

Separately, Seacon Shipping agreed to acquire two 26,700 gross tonnage bulk carriers from Tsuneishi Group (Zhoushan) Shipbuilding for $33 million each.

The vessels are scheduled for delivery in 2028 and 2030.

Shares of the shipping company were down 4% in recent trade.

Related Articles

Asia

Aedge Group Unit to Buy Commercial Property for SG$7.5 Million

Aedge Group's (SGX:XVG) subsidiary, IPF Investments, exercised an option to acquire a freehold property in Singapore for SG$7.5 million, according to a Monday bourse filing.The property has a land area of around 297.4 square meters and is currently tenanted at a monthly rent of SG$20,000.The acquisition will be funded through a combination of internal resources and bank borrowings and is expected to be completed on or before Oct. 13.

SGX:XVG
Asia

Huadian New Energy's Power Generation Rises 24% in Q2

Huadian New Energy's (SHA:600930) power generation in the second quarter rose 24% year on year to 36.2 billion kilowatt-hours, according to a Shanghai bourse filing on Tuesday.The increase was mainly attributable to the commissioning of additional installed generating capacity, with 2.39 million kilowatts being added during the quarter.For the first half, the power company's power generation climbed 22% to 69.1 billion kWh from a year earlier.The company's shares fell 3% during the morning trade.

SHA:600930
Asia

Giga Device Semiconductor Sees No Reason for Stock Surge; Shares Rise 9%

Giga Device Semiconductor's (HKG:3986, SHA:603986) stock deviated by more than 20% across three straight trading sessions on July 16, 17, and 20, according to a Tuesday filing with the Shanghai bourse.Following an internal investigation and verification with its controlling shareholder and actual controller, the company said it has no undisclosed material information, plans, or negotiations that may have had a significant impact on its stock price.The company's shares jumped 9% recently.

SHA:603986