On January 27, 2025, Seacon Shipping Group announced that it has signed an agreement with Danish shipping company Baltic Shipping to acquire 7 small multi-purpose vessels, with a total transaction value of 63.7 million euros (approximately 521 million Hong Kong dollars).
Latest Acquisition of 7 Small Multi-Purpose Vessels
The six vessels acquired include the MV Baltic Fin, Baltic Grain, Baltic Moon, Baltic Wind, Baltic Steel, and Baltic Sun, built between 2022 and 2024. Each vessel costs approximately 9.1 million euros, with an average age of less than two years, making them very young.
According to the agreement, these vessels will be delivered between April and June 2025. Seacon Shipping stated that these modern vessels will provide the company with more flexible shipping services, enhance market competitiveness, and lay a solid foundation for attracting more large clients and cooperation opportunities in the future.
As an important step in Seacon Shipping's ongoing efforts to optimize its fleet and expand its market share, this acquisition aligns with the company's long-term strategic goal of gradually phasing out older vessels and introducing more advanced ones. Seacon Shipping emphasized that increasing the number of controllable vessels will enable the company to better meet customer demands and enhance the overall competitiveness of its shipping solutions.
"Through this transaction, we will not only be able to meet the freight needs of more customers but also strengthen our voice in the industry and attract more potential business opportunities," the company stated in the announcement.
Since its listing on the Hong Kong Stock Exchange Main Board in 2023 (stock code: 2409), Seacon Shipping Group has rapidly expanded its business areas. From bulk carriers to tankers and chemical tankers, and now to the latest multi-purpose vessels, Seacon Shipping has continuously consolidated its market position through a series of capital operations and strategic deployments.
As a comprehensive shipping and ship management service provider, Seacon Shipping manages over 200 third-party vessels, offering services ranging from technical management and crew dispatch to financing support.
In the first half of 2024, Seacon Shipping recorded a net profit of 32.5 million USD, with revenue reaching approximately 138 million USD, demonstrating its strong growth momentum in the global shipping market.
Industry analysts believe that the acquisition of these six modern vessels will significantly enhance Seacon Shipping's service capabilities and help it explore more high-value routes and clients. Especially in the current market context where there is a strong demand for young and efficient vessels, this acquisition further proves Seacon Shipping's forward-looking strategic vision.
With the recovery of the global shipping market and the continuous advancement of green environmental policies, modern vessels will hold a greater advantage in future competition. Seacon Shipping is demonstrating its ambition to grow from a regional to a global player in the shipping industry through a series of proactive measures.
Founded in 1950, Baltic Shipping has long focused on the European market, managing up to 95 bulk carriers with tonnage ranging from 1,100 to 14,000 deadweight tons, covering a diverse business scope from short-haul coastal transport to deep-sea routes. The company's services include chartering, ship agency, project cargo transport, ship management, and cargo handling, forming a complete dry bulk shipping ecosystem.
In recent years, Baltic Shipping has not only steadily expanded its fleet but also actively promoted market synergies. In November 2024, the company announced the establishment of a new joint venture, Baltic Bulk, with Norwegian company Risor Shipping, focusing on the operation of Handysize and Supramax bulk carriers. This marks Baltic Shipping's further expansion into high-value-added services and the global market.
The establishment of Baltic Bulk aims to integrate the resource advantages of coastal transport, small bulk carriers, and Handysize vessels, providing "end-to-end" shipping solutions with exceptional flexibility and service. The company stated in its announcement that its goal is to create a "new and visionary ship operation and freight trading company," offering better choices for cargo owners and shipowners by simplifying the value chain and optimizing logistics.
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