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Home » General » Seanergy Maritime Holdings Corp. Announces Delivery of the Capesize Vessel M/V Partnership

Seanergy Maritime Holdings Corp. Announces Delivery of the Capesize Vessel M/V Partnership

Randy Whitney by Randy Whitney
April 26, 2019
in General
5 min read
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PublicWire Weekly Stock Investor Newsletter – Week of June 5, 2017 Issue

ATHENS, GREECE–SHIP, (Marketwired) – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) ( NASDAQ : SHIP ), announced today that on May 31, 2017 it took delivery of the M/V Partnership, a 179,213 dwt Capesize dry bulk vessel, built in 2012 by Hyundai in South Korea. The Company entered into the agreement to acquire the M/V Partnership in April 2017. The Company funded the gross purchase price of $32.65 million by a secured loan facility from a European bank and from financing arrangements with the Company’s sponsor.

Stamatis Tsantanis, Seanergy’s CEO, commented: “We are pleased to take delivery of another modern Capesize vessel. We remain committed to expanding our quality fleet in the Capesize segment, which we strongly believe represents the best fundamentals in the dry bulk industry. We will continue to actively pursue accretive acquisition opportunities of quality Capesize vessels with an aim of increasing value for our shareholders.”

Following this delivery the Company owns a modern fleet of eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8.1 years:

Vessel NameVessel ClassCapacity (dwt)Year BuiltYard
PartnershipCapesize179,2132012Hyundai
ChampionshipCapesize179,2382011Sungdong SB
KnightshipCapesize178,9782010Hyundai
LordshipCapesize178,8382010Hyundai
GloriushipCapesize171,3142004Hyundai
GeniushipCapesize170,0572010Sungdong SB
PremiershipCapesize170,0242010Sungdong SB
SquireshipCapesize170,0182010Sungdong SB
LeadershipCapesize171,1992001Koyo Imabari
GuardianshipSupramax56,8842011CSC Jinling Shipyard
GladiatorshipSupramax56,8192010CSC Jinling Shipyard
Total / Average1,682,5828.1 years

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is an international shipping company that provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The Company currently owns a modern fleet of eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8.1 years.

The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares and class A warrants trade on the Nasdaq Capital Market under the symbols “SHIP” and “SHIPW,” respectively.

Please visit our company website at: www.seanergymaritime.com

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may,” “should,” “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to pay amounts that it owes and obtain additional financing in the future to fund capital expenditures, acquisitions, refinancings and other general corporate activities; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Tags: Capesizedry bulk vessselsSeanegy Maritime Holdings CorpSHIP
Randy Whitney

Randy Whitney

Randy is a marketing specialist with experience creating content for sports and real estate in New York City. He has written for Major League Baseball and Cut4 as well as contributed creatively to the growth and development of startups around the country.

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