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
Damen completes green retrofit project for BAM Shipping
(Posted on 15/05/25)Damen Shipyards Group, together with partners including Atal Solutions has completed its retrofit of... Read more
NORDEN expands MPP fleet, reinforcing growth in Projects & Parcelling
(Posted on 15/05/25)NORDEN has announced that it has signed agreements for two additional 17,500 dwt Multi-purpose (MPP)... Read more
ClassNK’s ‘Guidelines for Safety Operation for Ammonia-Fueled Vessels’
(Posted on 15/05/25)ClassNK has released the ‘Guidelines for Safety Operation for Ammonia-Fueled Vessels’ for... Read more
Better safeguarding measures needed to support cadets at sea
(Posted on 07/05/25)Cadets are increasingly struggling to complete their cadetships due to a shortage of available placements... Read more
Algoma focuses on reliable service and fleet improvements
(Posted on 07/05/25)Algoma Central Corporation has reported its results for the three months ended March 31, 2025. Algoma... Read more
ClassNK releases ‘Prime Shipmanagement Guidelines’
(Posted on 01/05/25)ClassNK has released ‘Prime Shipmanagement Guidelines’ which aim to achieve sustainable... Read more
MCTC ensures quality remains at top of the table amid global tensions
(Posted on 30/04/25)In the face of unpredictable provisioning costs, port disruptions, and longer lead times MCTC has reinforced... Read more
NORDEN raises full-year guidance for 2025
(Posted on 28/04/25)On the back of the increased gains from sales of vessels and good operational performance, NORDEN, a... Read more
INTERCARGO welcomes ILO recognition of seafarers as key workers
(Posted on 28/04/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has welcomed the recent decision... Read more
MMS advises why seafarers must remain vigilant about malaria
(Posted on 25/04/25)Despite its lack of publicity, malaria remains an ongoing epidemic and a perilous threat to seafarers... Read more
