Seacon signs for Japanese handy newbuild

Seacon Shipping, a Hong Kong-listed company based in Qingdao, is set to enhance its dry bulk fleet with a new handysize vessel. The company has secured a contract for a 40,300 dwt double hull bulker from Imabari Shipbuilding for $35 million. This fuel-efficient ship is expected to be delivered in the first quarter of 2028, marking a significant step in Seacon’s strategy to modernize its fleet.

Strategic Fleet Expansion

Seacon Shipping is actively pursuing a strategy to optimize and expand its fleet by phasing out older vessels. The recent order for the new bulker aligns with this plan, which emphasizes the importance of environmental compliance and fuel efficiency. The company had previously ordered an ultramax bulker from Tsuneishi Zhoushan, showcasing its commitment to investing in modern tonnage.

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Currently, Seacon has an impressive order book of nearly 30 ships. Among these, the company has contracted 40,000 dwt bulkers for construction at Japan’s Namura shipyard, with expected delivery between August and October 2025. Additionally, Seacon has secured 42,200 dwt vessels at the Tsuneishi-controlled Zhoushan yard in China. Notably, most of these newbuilding projects are financed through sale and leaseback arrangements, allowing Seacon to enhance its fleet while managing financial risks effectively.

This strategic growth underscores Seacon’s ambition to remain competitive in the dry bulk shipping sector, as the company continues to prioritize innovation and environmental stewardship in its operations.