Seanergy Enters Three Time Charters

Tuesday, June 28, 2011

Seanergy Maritime Holdings Corp. announced today that it has entered into new time charter agreements for one of its Panamax vessels and two of its Capesize vessels.

The M/V BET Intruder, a 69,235 dwt Panamax dry bulk carrier built in 1993, has entered into a time charter agreement for a period of about eleven to about thirteen months at a gross charter rate of $12,250 per day. The charter will commence after the completion of the M/V BET Intruder’s current trip.

The M/V BET Fighter and M/V BET Scouter have also entered into time charter agreements for a period of about eleven to thirteen months at a gross charter rate linked to the adjusted Time Charter Average of the Baltic Exchange Capesize Index. Both charters commenced in June 2011. The M/V BET Fighter is a 173,149 dwt Capesize dry bulk carrier built in 1992, and the M/V BET Scouter is a 171,175 dwt Capesize dry bulk carrier built in 1995.

As a result of these new charter party agreements, the Company has time charter arrangements that cover its ownership days 90% for 2011, 59% for 2012 and 23% for 2013, based on the latest redelivery
date of the charter party agreements.

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