Marine Link
Wednesday, July 18, 2018

Seanergy Maritime Updates on Fleet

Maritime Activity Reports, Inc.

September 14, 2017

Photo: Seanergy Maritime Holdings Corp

Photo: Seanergy Maritime Holdings Corp

 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. The successful execution of our business plan puts us in an advantageous position to capitalize on the long term recovery we expect to see in the dry bulk market."
In June 2017, the company terminated our At-The-Market equity offering program as it remains committed to optimizing its financing activities so as to best serve the interests of itsshareholders. "Over the past year we have utilized equity offering proceeds to carry out three vessels' acquisitions and finance the prepayments for the early termination of a credit facility," he added.
"We believe Seanergy is well positioned to capitalize on favorable industry trends and we continue to actively pursue additional vessel acquisitions," Stamatis concluded.
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