Two More Secondhand Bulkers for Seanergy

Maritime Activity Reports, Inc.

November 10, 2015

Dry bulk shipper Seanergy Maritime Holdings Corp. has taken delivery of two secondhand Capesize dry bulk vessels, renamed M/V Gloriuship and M/V Squireship, to be employed in the spot market.
The 171,314 dwt Gloriuship was built in 2004 by Hyundai Heavy Industries, and the 170,018 dwt Squireship was built in 2010 by Sungdong Shipbuilding & Marine Engineering.
Gloriuship and Squireship are the fifth and sixth vessels of seven secondhand dry bulk ships (five Capesize and two Supramax) acquired for a gross purchase price of approximately $183 million, with the remaining Capesize bulker expected to be acquired by November 30, 2015.
The acquisition cost of Gloriuship and Squireship was funded by senior secured loan agreements with international financial institutions and by a funding arrangement with Seanergy’s sponsor.
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