South African Marine Corporation News

Seanergy Maritime Corp. has taken delivery of, through its wholly owned subsidiary, Seanergy Maritime Holdings Corp., and its designated nominees, the M/V Hamburg Max a 1994 built Panamax vessel with a capacity of 73,498 dwt and the M/V African Zebra, a 1985 built Handysize vessel with a capacity of 38,632 dwt and has now completed all the acquisitions contemplated by the Master Agreement dated May 20, 2008. The M/V Hamburg Max is chartered at a rate of $65,000 per day and the M/V African Zebra is chartered at a rate of $36,000 per day both until on or about September 2009 and are chartered to South African Marine Corporation, an affiliate of the Restis family.

Seanergy Maritime Corp announced that it has completed the acquisition pursuant to the Master  Agreement dated May 20, 2008, and took delivery of, through its wholly owned subsidiary,  Seanergy Maritime Holdings Corp., and its designated nominees, the M/V Bremen Max, a 1993  built, Panamax vessel with a capacity of 73,503 dwt. The vessel is chartered at the rate of  $65,000 per day until on or about September 2009 to South African Marine Corporation, an  affiliate of the Restis family.

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.