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
Algoma celebrates 100th vessel milestone
(Posted on 07/10/25)Algoma Central Corporation has taken delivery of the Algoma Legacy, the first of three new methanol-... Read more
Key IOMSR Hong Kong appointment strengthens presence in Asia
(Posted on 06/10/25)The Isle of Man Ship Registry (IOMSR) has strengthened its presence in Asia with the appointment of... Read more
Anemoi Rotor Sails installed on U-Ming VLOC at COSCO Shipyard
(Posted on 02/10/25)U-Ming Marine Transport Corporation (U-Ming) and leading wind propulsion technology provider Anemoi... Read more
.Anemoi Rotor Sails installed on U-Ming VLOC at COSCO Shipyard
(Posted on 02/10/25)U-Ming Marine Transport Corporation (U-Ming) and leading wind propulsion technology provider Anemoi... Read more
Anemoi Rotor Sails installed on U-Ming VLOC at COSCO Shipyard
(Posted on 02/10/25)U-Ming Marine Transport Corporation (U-Ming) and leading wind propulsion technology provider Anemoi... Read more
Anemoi Rotor Sails installed on U-Ming VLOC at COSCO Shipyard
(Posted on 02/10/25)U-Ming Marine Transport Corporation (U-Ming) and leading wind propulsion technology provider Anemoi... Read more
New guidelines for safe inspection of methanol dual-fuel ships
(Posted on 02/10/25)The Maritime Technologies Forum (MTF) has released a comprehensive report providing guidelines for the... Read more
Crewing specialists, Danica, strengthens presence in Turkey
(Posted on 02/10/25)Danica Crewing Specialists has appointed Hasan Koroglu as Business Development Manager to support the... Read more
Fleet expands its growth, training and innovation hub in the Philippines
(Posted on 30/09/25)Fleet Management Limited, a part of The Caravel Group, is expanding its presence in the Philippines... Read more
Greek owners to play key role in nuclear development for maritime sector
(Posted on 29/09/25)“Nuclear energy is stepping forward as a credible long-term solution” stated Christopher... Read more
