SEACON Shipping Group has agreed to sell a chemical and oil tanker for $32.9m to UK-based Union Maritime, as part of the Chinese firm’s recent series of asset shuffling and fleet renewal moves.

The Hong Kong-listed shipmanager and operator said it will first buy the 2021-built, 34,834 dwt Golden Dahlia (IMO: 9858785) from its bareboat charter owner Bright Rose Shipping for $21m, before flipping the vessel to Union Maritime by April 8 this year.

Marshall Islands-registered Bright Rose Shipping is a subsidiary of China’s AVIC Industry-Finance Holdings.

The sale is expected to generate net gains of around $6.5m for Seacon.

Since listing in Hong Kong in March 2023, Seacon has disclosed several similar deals, where it purchases bareboat chartered tonnage and immediately sells them for gains.

These include a 2023-built, 13,500 dwt general cargo carrier Seacon Yokohama (IMO: 9978341), which was sold last month to Singapore’s Yuchen Logistics and brought in gains of $3.8m.

Seacon said these proceeds will be used for potential new acquisitions and general working capital as the company continued to optimise its fleet.

Last week, Seacon also announced it would novate an order for two 18,500 dwt chemical/oil tankers at Fujian Southeast Shipbuilding to an associated firm Continental Kapital Tankers.

This followed its purchase in January of seven 3,800 dwt small dry bulkers from Denmark’s Baltic Shipping for €63.7m ($66.5m).