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
Shipping takes major sustainable plastic step with toolkit from MACS
(Posted on 16/07/26)The Maritime Association for Clean Seas (MACS) has published a series of practical guides to enable... Read more
Shanghai climbs to second as Singapore retains top spot
(Posted on 16/07/26)Shanghai has officially become the world’s second-most prominent shipping hub, according to the... Read more
OceanScore sees growing port adoption of PortView
(Posted on 16/07/26)OceanScore, the maritime data and sustainability company helping shipping and ports turn regulatory... Read more
INTERCARGO highlights progress and priorities in bulk carrier safety
(Posted on 07/07/26)Bulk carrier safety continues to show steady long-term improvement, but the nature of risk facing seafarers... Read more
Norden raises full-year guidance following strong performance in dry cargo
(Posted on 07/07/26)Following stronger than expected operational performance in dry cargo, reduced costs associated with... Read more
Algoma announces refinancing of long-term debt
(Posted on 03/07/26)Algoma Central Corporation, a leading provider of marine transportation services, has announced that... Read more
Global maritime under threat from Fortibleed incident, warns Cydome
(Posted on 03/07/26)Major maritime, ports and energy companies have been identified by Cydome’s threat-intelligence... Read more
Crewing specialist expands global recruitment network with Indonesian seafarers
(Posted on 30/06/26)As the global shipping industry faces mounting concerns over future crew availability, Danica Crewing... Read more
IMO pauses evacuation in Strait of Hormuz following attack
(Posted on 29/06/26)Following an attack on a vessel in the Gulf of Oman, IMO has decided to temporarily pause its evacuation... Read more
Human cost of keeping world trade moving highlighted on Day of the Seafarer
(Posted on 25/06/26)Leading health and wellness platform OneCare Group is calling on shipping leaders to recognise the immense... Read more
