Seanergy Maritime to Acquire Capesize Vessel

 

Seanergy Maritime Holdings Corp. while announcinbg their financial results for the third quarter and nine months ended September 30, 2014 informed that they plan to acquire a Secondhand Capesize vessel.

In this regards Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer stated, “Since the successful completion of the Company’s financial restructuring in March 2014, we have worked towards rebuilding the Company’s fleet so we can initiate the positive cash-flow generation that will deliver value to our shareholders.

“Regarding our immediate expansion plans we have been cautiously monitoring the deterioration of the asset values for the last six months, where certain dry bulk asset values suffered value reduction of more than 20%, bottoming close to historical lows. Taking advantage of these market trends, we decided to proceed with a secondhand vessel acquisition and we are pleased to announce that we entered into an agreement with an unaffiliated third party for the acquisition of a Capesize vessel.

“The vessel was built in 2001 at a renowned Japanese shipyard and is expected to be delivered to the Company between mid of the first quarter and early of the second quarter of 2015. The gross purchase price of the vessel, which is $17.3 million, will be funded by secured senior bank debt as well as financing by one of the Company’s major shareholders."