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Seanergy Maritime Holdings News

23 Jun 2022

Seanergy Acquires Secondhand Capesize Bulker

Seanergy Maritime Holdings Corp. announced Thursday it has agreed to acquire a secondhand bulk carrier from a Japanese owner.The 180,000 dwt Capesize vessel, to be renamed Honorship, was built at a Japanese shipyard in 2010.It is expected to be delivered within June 2022 and will promptly begin operating on a 20-24-month charter to with NYK Lines at an index-linked rate at a significant premium over the Baltic Capesize Index, Seanergy said.Seanergy said it has the option to convert the daily hire from index-linked to fixed for a minimum period of two months to a maximum of 12 months based on the same premium over the prevailing Capesize Freight Futures Agreements (FFA) curve.Stamatis Tsantanis…

16 Mar 2022

Future Fuels: TotalEnergies Makes Historic First Marine Bio-Fuel Bunker Delivery

The capesize bulker Friendship, owned by Seanergy Maritime and chartered by NYK, has collaborated with global mining company Anglo American to complete a trial using biofuel to transport cargo. This is the fourth successful trial use of biofuel by NYK , the second in cooperation with Anglo American and the first with Seanergy Maritime. Photo courtesy TotalEnergies Marine Fuels/NYK

TotalEnergies Marine Fuels carried out its first marine bio-VLSFO (Very Low Sulfur Fuel Oil) bunker delivery in Singapore’s port waters, as part of a biofuel trial recently completed by NYK Line and Anglo American.During the operation, a B10 biofuel blend that composed of VLSFO blended with 10% second-generation, waste-based and ISCC-certified UCOME (Used Cooking Oil Methyl Ester) was supplied via ship-to-ship transfer to MT Friendship, a bulk carrier owned by Seanergy Maritime Holdings Corp. and chartered by NYK Line to transport cargo provided by Anglo American.

28 Jul 2021

Seanergy Takes Delivery of 2009-built Bulk Carrier. Secures Charter with NYK Line

For illustration only - Credit: Volodymyr Kyrylyuk - AdobeStock

Seanergy Maritime Holdings Corp. has taken delivery of the M/V Friendship bulk carrier.The vessel is a 176,952 dwt Capesize bulk carrier, built in 2009 by Namura Shipbuilding Co., Ltd. in Japan. "The M/V Friendship is the fifth Capesize delivery that Seanergy has successfully completed in 2021 to date," the company said.Seanergy also said that the has been fixed on a time charter with Japan's NYK Line, which is an existing charterer of Seanergy. The charter is expected to commence immediately…

08 Jul 2021

Seanergy Buys a Capesize, Sells Another

Dry bulk shipping company Seanergy Maritime Holdings Corp. announced it has reached separate deals to acquire a secondhand Capesize vessel and sell the oldest vessel in its fleet.The pure-play Capesize shipowner said it will acquire a 2009-built bulker through a $24.6 million purchase agreement with "a major Japanese company", while a sales agreement with "a far-eastern company" will see the 2001-built Leadership exit the Seanergy fleet for a net sale price of approximately $12 million.The newly acquire bulk carrier, to be be renamed Friendship, was built at a Japanese shipyard and has a cargo-carrying capacity of approximately 177,000 deadweight tons (dwt).

07 Jul 2020

Seanergy Picks Up Capesize Bulker

(Photo: Seanergy)

Seanergy Maritime Holdings Corp. announced Tuesday it has entered into an agreement with an unaffiliated third party to purchase a secondhand Capesize vessel for “prompt delivery”.The vessel Geniuship, to be renamed Goodship, was built in 2005 at Mitsui Engineering & Shipbuilding Co. Ltd. in Japan, and has a cargo-carrying capacity of approximately 177,536 deadweight tons.Following her delivery, the Seanergy fleet will increase to 11 Capesize vessels with an aggregate cargo capacity of approximately 1,926,117 dwt, the company said.

27 May 2020

Pangaea Takes Top Spot in Dry Bulk Benchmark Study

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

05 Mar 2020

Seanergy Maritime Gets Refinancing

The Greek provider of marine dry bulk shipping services Seanergy Maritime Holdings Corporation announced that it received approval, in form of commitment letters, from one of its existing lenders to extend the maturity of two loan facilities.According to the Nasdaq listed pure-play capesize ship-owner said that the loan facilities are secured by the M/V Leadership and M/V Squireship and their respective maturities are extended from March 17, 2020 and November 10, 2021 to December 31, 2022.The underlying terms remain substantially the same, while the commitment letters provide, amongst others, that certain financial covenants and restrictions on dividend payments binding the Company would no longer apply.The approval is subject to completion of definitive documentation, it said.

01 Aug 2019

Seanergy Maritime Completes Retrofit

The drydocking of the vessel M/V Lordship was completed yesterday (August 01), marking the first milestone in Seanergy Maritime Holdings' scrubber and ballast water treatment system (BWTS) installation program.The Greece-based international shipping company said in a stock exchange announcement that the dry docking of the M/V Partnership is currently ongoing."Three vessels will follow within August, September and October 2019, respectively, in line with our initial installation schedule," said the provider of marine dry bulk transportation services through the ownership and operation of dry bulk vessels."In addition, we have agreed with one of our existing charterers…

26 Nov 2018

Seanergy Maritime Holdings Completes Acquisition of M/V Fellowship

Seanergy Maritime Holdings reported  the successful completion of the previously announced sale and purchase agreements.The Greece-based  shipping company with specialization in dry bulk cargo shipping said that on November 22, 2018 the Company took delivery of the M/V Fellowship, a 179,759 deadweight ton (dwt) Capesize dry bulk vessel, built in 2010 at Daewoo Shipbuilding in South Korea.Seanergy entered into the agreement to acquire the M/V Fellowship in August 2018.Furthermore, the Company has completed the sales of two Chinese built Supramax vessels. Specifically, the M/V Gladiatorship, built in 2010 at CSC Jinling Shipyard, was delivered to its new owners on October 11…

14 Nov 2018

Seanergy Maritime in Leaseback, Refinancing Pact with Cargill

The dry bulk cargo shipping company Seanergy Maritime Holdings announced has successfully concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International.The Nasdaq listed shipping company based in Greece informed that the refinancing has released approximately $7.8 million of liquidity for the Company.Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it into a five-year time charter with Cargill at a rate which is linked to the 5-routes Time Charter average of the Baltic Exchange Capesize Index (BCI).The Charterer will also cover 100% of the equipment and installation cost for retrofitting the Vessel with an exhaust gas cleaning system (a scrubber).Lastly…

31 Oct 2018

Seanergy, Charterers Take the Scrubber Plunge

Seanergy Maritime Holdings Corp. entered into commercial agreements for the installation of exhaust gas cleaning systems on five of its capesize bulk carriers -- M/V Partnership, M/V Lordship, M/V Premiership, M/V Squireship and M/V Championship -- before the January 1, 2020 implementation date of the IMO sulfur emission cap regulations. The company secured the scrubber equipment from Hyundai Materials, a  Korean manufacturer, and and will re-fit the ships in China. The total investment, to be covered by the charterers, is expected to exceed $12.5 million, including equipment and installation costs.“We are very excited to announce these commercial agreements which should result in approximately $12.5 million accretion in our NAV," said Stamatis Tsantanis, Seanergy Maritime Holdings Corp.

02 Oct 2018

Seanergy Maritime Holdings Buys One Vessel, Sells Two

Seanergy Maritime Holdings has anounced that it has signed agreement to acquire one modern capesize vessel and sale of two supramax vessels to become the only US-listed pure-play capesize vessel owner.The international shipping company that provides marine dry bulk transportation services said in a press release that  it has entered into definitive agreements with unaffiliated third parties for the purchase of a modern secondhand Capesize vessel and the sale of two Supramax drybulk vessels.The transactions are expected to be completed in the fourth quarter of 2018. Following these transactions, Seanergy will be the only pure-play Capesize vessel owner listed in the US public markets.The Company has agreed to acquire a modern secondhand Capesize vessel from an unaffiliated third party…

12 Aug 2018

Seanergy Maritime Holdings Revenue up by 20% in 1H 2018

Seanergy Maritime Holdings Corp. net revenues for  six months ended June 30, 2018 were $38.1 million, up 20% from the first half of 2017.The shipping company generated net revenues of $16.8 million for the quarter ended June 30, 2018, an 8% decrease compared to the second quarter of 2017. As of June 30, 2018, stockholder’s equity was $28.6 million and cash and cash equivalents, including restricted cash, was $13 million.Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “During the first half of 2018 our efforts were primarily focused on improving our liquidity and capital structure. We refinanced successfully two Capesize vessels that were acquired in 2016…

09 Jul 2018

Seanergy Maritime Holdings Refinances Two Capesize Vessels

Seanergy Maritime Holdings announced that it has successfully completed the refinancing of a previous loan facility secured by M/Vs Lordship and Knightship. Both vessels are Capesize bulk carriers built in 2010 in South Korea, purchased by Seanergy in 2016. The original maturity of the Facility was December 2019. M/V Knightship was refinanced in June 2018 through a sale and leaseback transaction with AVIC International Leasing Co., Ltd., a major Chinese state-owned financing institution. Seanergy sold and chartered the vessel back on a bareboat basis for an eight year period, having a purchase obligation at the end of the eighth year. The Company has the option to repurchase the vessel at any time following the second anniversary of the bareboat charter party.

29 Dec 2017

Bulkers to Benefit as China Iron Ore Appetite Grows

Photo: © martinfredy/Adobe Stock

It has been quite awhile since the global bulk carrier market has had much to cheer about, but U.S. dry bulk shippers are set to post strong revenue growth in the next two years thanks to soaring Chinese demand for high-grade iron ore from Brazil and Australia. To combat severe winter smog, China has slashed iron ore output, pushing steel mills in the world's second biggest economy to import more high-grade ore. China also wants to make pollution control a priority for the next three years.

14 Sep 2017

Seanergy Maritime Updates on Fleet

Seanergy Maritime Holdings  said that it  took delivery of the 2012 Korean built Capesize M/V Partnership, which commenced its 12-18 months' time charter with a major European utilities company in June at a gross rate of $16,200 per day. "Our modern fleet now consists of nine Capesize vessels and two Supramax vessels with a combined cargo carrying capacity of 1.7 million dwt," said the company. Stamatis Tsantanis, the Company's Chairman & Chief Executive Officer, stated: "We are particularly pleased about expanding our fleet at a time of historical market weakness, as the indicative market values of 5-year old secondhand Capesizes have risen by around 40% compared to the end of 2016.

05 Jul 2017

Seanergy Maritime Reports Q1 Results, Acquires Vessel

For the quarter ended March 31, 2017, Seanergy Maritime Holdings Corp generated net revenues of $13.3 million, a 90% increase versus the same period 2016. As of March 31, 2017, stockholders’ equity was $26.7 million and cash and cash equivalents, including restricted cash was $6.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “In March 2017, pursuant to our prudent fleet expansion plan, we agreed to acquire another modern Capesize vessel. The vessel recently commenced its 12-18 months’ time charter with a major European utilities company at a strong gross rate of $16,200 per day. The Partnership is expected to generate approximately $8.8 million of gross revenue, assuming the full 18 months employment.

14 Jun 2017

Seanergy Time Charter Contract for Partnership

Greece-based Seanergy Maritime Holdings announced that it has entered into a time charter contract with a major European utility and energy company for its recently delivered Capesize vessel. The 2012-built M/V Partnership will commence a period employment of about twelve to eighteen months and is expected to generate approximately $8.8 million of gross revenue, assuming the full 18 months employment. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, said: “We are pleased to announce a period employment contract for our most recent Capesize acquisition. The strong rate achieved supports our projections for continued improvement in the Capesize market and overall dry bulk sector.

25 Apr 2017

Kartsonas Joins Seanergy Board

(Photo: Seanergy Maritime Holdings Corp.)

Dry bulk vessels owner and operator Seanergy Maritime Holdings Corp. has appointed Ioannis “John” Kartsonas as a member of its board of directors, effective May 4, 2017.  Kartsonas has more than 18 years of experience in finance and commodities trading. He is currently the Principal and Managing Partner of Breakwave Advisors LLC., a commodity-focused advisory firm based in New York. Prior to that, he held various senior positions in investment management and research focusing in shipping and commodities. He has earned an MBA in Finance from the University of Rochester.

18 Apr 2017

Seanergy Bags Time Charter for Capesize Bulker

Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months. The T/C is for the 180,000 dwt Capesize vessel M/V Lordship and is expected to commence in June 2017, upon expiration of the vessel's current T/C with the same charterer. The net daily charter hire is index-linked rate based on the 5 T/C route rate of Baltic Capesize Index (BCI). In addition, the charter contract provides the option to Seanergy to convert at any time and for a period of minimum three months to maximum 12 months the index-linked rate into a fixed rate corresponding to the prevailing value of the respective Capesize FFA.

03 Apr 2017

Seanergy Maritime Reports Q4 Results

Seanergy Maritime Holdings Corp reports financial results for the fourth quarter and twelve months ended Dec. 31, 2016. For the fourth quarter and twelve months ended December 31, 2016, the Company generated net revenues of $10.9 and $34.7 million respectively. As of December 31, 2016 total stockholders’ equity was $30.8 million and cash and restricted cash was $15.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “During 2016, the dry bulk market went through the worst crisis of the last 25 years. The continuous oversupply of ships as well as the concerns over future demand for dry bulk transport led to the lowest freight rate levels since the end of the 1980’s.

14 Dec 2016

Seanergy Maritime Takes Delivery of MV Knightship

Seanergy Maritime Holdings Corp. has taken delivery of a 178,978 dwt Capesize dry bulk vessel, renamed to M/V Knightship and built in 2010 by Hyundai Heavy Industries in South Korea. Stamatis Tsantanis, CEO of Seanergy commented, "We are very pleased to announce the delivery of the second of the two Capesize vessels that we agreed to acquire in September 2016. Stamatis added, "We expect to continue the implementation of our business plan and grow our fleet even further. The company currently owns a fleet of 10 dry bulk carriers, consisting of eight Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,503,369 DWT and an average fleet age of about 7.9 years.

09 Dec 2016

Seanergy Maritime Prices $ 15 mi Offering

Seanergy Maritime Holdings Corp. announced today the pricing of its $15 million public offering of 10,000,000 common shares and class A warrants, at a combined price to the public of $1.50 per common share and class A warrant. The offering is expected to close on or about December 13, 2016. The Company estimates that the net proceeds from the offering, after deducting the underwriting discount and offering expenses, will be approximately $13,380,000. The net proceeds of the offering are expected to be used for debt repayment, vessel acquisitions in accordance with the Company’s growth strategy and general corporate purposes. Maxim Group LLC is acting as sole manager for the offering.