TOC EventsSailors SocietyThe Wolfson Centre for Bulk Solids Handling Technology Port of StocktonCimbriaTBA Group
  • Cimbria
  • Port of Stockton
  • Port of South Louisiana
  • TBA Group
  • TOC Events
  • Coaltrans Asia 2021

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

Potential officer shortage looms

(Posted on 29/07/21)

Launched this week, the new Seafarer Workforce Report from BIMCO and the International Chamber of Shipping... Read more


DNV backs crew change programme in SE Asia

(Posted on 29/07/21)

DNV, the world’s leading classification society and risk management expert, is embarking on an... Read more


IMI and Columbia sign cooperation agreement

(Posted on 29/07/21)

International Maritime Industries (IMI), the largest maritime yard in the Middle East and North Africa... Read more


Ocean Technologies helps seafarers minimise distractions

(Posted on 26/07/21)

Distractions are recognised as one of the biggest causes of human error resulting in incidents, accidents... Read more


The BMA recognises first mental health training course

(Posted on 26/07/21)

The Bahamas Maritime Authority (BMA) has announced that it has recognised the Seafarer Mental Health... Read more


ClassNK grants innovation endorsement Tsuneishi

(Posted on 20/07/21)

Leading Classification Society ClassNK granted its first Innovation Endorsement “Provider Certification... Read more


Jamaica’s successful women can serve as an example

(Posted on 20/07/21)

World shipping can learn a lot from Jamaica when it comes to equality in the maritime workplace because... Read more


DNV verifies Survitec’s new firefighting foam tests

(Posted on 15/07/21)

Classification society DNV has issued a verification statement allowing global survival technology specialist... Read more


METIS contributes digital expertise to EU sustainability project

(Posted on 15/07/21)

METIS Cyberspace Technology is contributing to an EU-backed project that will test clean energy solutions... Read more


Wärtsilä launches major carbon-free solutions test programme

(Posted on 15/07/21)

The technology group Wärtsilä continues to lead the ongoing transformation of the energy and... Read more


Coaltrans Asia 2021TMS Awards 2021Bühler GmbHCleveland Cascades LtdTelestackPort of South Louisiana
  • Cleveland Cascades Ltd
  • Telestack
  • Sailors Society
  • Van Aalst
  • Bühler GmbH

Subscribe to our newsletter

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