Coaltrans Global 2021TOC EventsViganBühler GmbHCleveland Cascades LtdPort of South Louisiana
  • Cleveland Cascades Ltd
  • Telestack
  • Port of South Louisiana
  • Cimbria
  • Port of Stockton
  • Bühler GmbH

Seanergy to be sole US-listed pure-play Capesize owner

Seanergy to be sole US-listed pure-play Capesize owner

(Posted on 04/10/18)

Seanergy Maritime Holdings Corp. has announced that it has entered into definitive agreements with unaffiliated third parties for the purchase of a modern secondhand Capesize vessel and the sale of two Supramax drybulk vessels. The transactions are expected to be completed in the fourth quarter of 2018. Following these transactions, Seanergy will be the only pure-play Capesize vessel owner listed in the US public markets.

The Company has agreed to acquire a modern secondhand Capesize vessel from an unaffiliated third party,  built in 2010 at Daewoo Shipbuilding in South Korea with a cargo-carrying capacity of approximately 180,000 deadweight tons (“dwt”) for a gross purchase price of $28.7 million.
The delivery of the new vessel is scheduled to take place in the fourth quarter of 2018. The vessel is currently on time charter to a major European drybulk operator at a gross daily rate of $17,150 with latest redelivery date in January 2019.

Additionally, the Company has entered into two separate definitive agreements with unaffiliated third parties for the sale of its only two Supramax vessels, the 2010-built M/V Gladiatorship and the 2011-built M/V Guardianship. The aggregate gross sale price is approximately $23 million and the vessels are scheduled to be delivered to their new owners in October 2018.    
 
Finally, the Company has reached an in-principle agreement with the existing lender of the two Supramax vessels pursuant to which it expects that the loan secured by these vessels will remain available to fund the majority of the acquisition cost of the new Capesize vessel under substantially the same terms. The definitive documentation for such agreement is currently under negotiation with the Company’s lender. The balance of the acquisition price of the Capesize vessel is expected to be funded through cash on hand.
The S&P transactions are subject to standard closing procedures.

Latest News

Columbia and Seatrans agree strategic shipmanagement tie-up

(Posted on 06/05/21)

Columbia Shipmanagement (CSM) has continued its recent expansion by agreeing a strategic partnership... Read more


OneLearn Global signs up to Neptune Declaration

(Posted on 06/05/21)

Recently launched OneLearn Global, created to provide modern-day training solutions to serve the maritime... Read more


IMO Council membership demonstrates Jamaica’s worth

(Posted on 06/05/21)

Membership of the International Maritime Organisation is important for strengthening Jamaica and the... Read more


CCS grows bulker fleet and scores with Intercargo

(Posted on 04/05/21)

China Classification Society (CCS), the world’s fastest growing classification society, has been... Read more


Su-Nav establishes integrated ship management model

(Posted on 04/05/21)

Su Nav, the integrated ship management company, has established a comprehensive range of services over... Read more


Fednav welcomes its latest icebreaking bulk carrier

(Posted on 29/04/21)

Fednav Limited has announced that it has taken delivery of its latest Polar Class 4 icebreaking bulk... Read more


InterManager vows to source vaccinations for seafarers

(Posted on 29/04/21)

Frustrated by the lack of progress and slow pace of international efforts, InterManager has vowed to... Read more


IOMSR first flag state to partner Eyesea ocean clean up

(Posted on 29/04/21)

The Isle of Man Ship Registry (IOMSR) has become the first flag state to formally back the Eyesea initiative... Read more


IoS-OP fully utilized in new bulk carrier

(Posted on 29/04/21)

IoS-OP*1 has been fully utilized in the bulk carrier built by Shin Kurushima Sanoyas Shipbuilding Co... Read more


MAG’s volumes increase despite Covid challenge

(Posted on 28/04/21)

Despite the challenges of Covid-19, Morska Agencja Gdynia (MAG), in Poland, has performed even better... Read more


TelestackVan AalstTBA GroupThe Wolfson Centre for Bulk Solids Handling Technology Sailors SocietyPort of Stockton
  • Coaltrans Global 2021
  • Van Aalst
  • TBA Group

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping