LC Logistics (2490) entered into two shipbuilding agreements with Shanghai Waigaoqiao and China Shipbuilding on 27 February 2026. Under these agreements, each 11,000 TEU container vessel is priced at US$118.00 million, totaling US$236.00 million. The newly purchased vessels will have a guaranteed service speed of no less than 21.0 nautical miles per hour and a deadweight of not less than 120,730 metric tons.

Payment for each vessel comprises five installments: US$47.20 million for the first installment, US$23.60 million each for the second, third, and fourth installments, and US$118.00 million (plus any related costs) at delivery. A deposit of US$3.00 million was made to secure the agreements, which is applied toward the first payment. Delivery is expected on or before 30 November 2028 for Hull No. H1664 and 30 April 2029 for Hull No. H1665.

According to the announcement, the agreements are classified as a major transaction under Chapter 14 of the Listing Rules, as the applicable percentage ratios exceed 25% but are below 100%. Written approval from shareholders holding 317,106,588 shares, representing approximately 55.39% of LC Logistics’ issued share capital, has been obtained. A circular containing further details is scheduled for dispatch on or before 20 March 2026.

The company’s board highlighted that acquiring these vessels aligns with its strategic goal of expanding shipping capacity and enhancing operating efficiency. The company currently intends to fund the purchase primarily through internal resources and external financing, without using funds raised during its initial listing.