Seanergy Acquires FirstThree Dry Bulk Vessels

Tuesday, September 02, 2008

Seanergy Maritime Corp. has completed the acquisition, through its wholly owned subsidiary, Seanergy Maritime Holdings Corp., and its designated nominees, of the first three of six dry bulk carriers to be acquired pursuant to the Master Agreement dated May 20, 2008. The company took delivery of two 2008 Built Supramax vessels, the M/V Davakis G. and the M/V Delos Ranger, and the Handysize M/V African Oryx.

The M/V Davakis G. and the M/V Delos Ranger each have a capacity of 54,000 dwt and are chartered at a rate of $60,000 per day until on or about September 2009 respectively. The M/V African Oryx, built in 1997, has a capacity of 24,110 dwt and is chartered at a rate of $30,000 per day until on or about September 2009. Each of the vessels are chartered to South African Marine Corporation, an affiliate of the Restis family.

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