Seanergy Secures Time Charter

Monday, July 20, 2009

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (NASDAQ: SHIPW) announced that it has entered into time charter contracts with MUR Shipping BV, a first class charterer, for its two handy dry bulk carriers, the M/V African Oryx and the M/V African Zebra, for a period of minimum twenty two to twenty five months at gross floor charter rates of $7,000 and $7,500 respectively per day and a 50% adjusted profit share to be distributed equally between owners and charterers calculated on the average spot Time Charter Routes derived from the Baltic Supramax Index.

The charters will commence on July 17, 2009 and July 20, 2009 respectively, upon delivery from their current commitments. Based on the floor rates, this employment is anticipated to generate at least $9.7m of gross revenues for the minimum scheduled period of the charters.
The M/V African Oryx is a 24,110 dwt handysize dry bulk carrier built in 1997 and the M/V African Zebra is a 38,623 dwt handymax dry bulk carrier built in 1985.


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