Seanergy Maritime Holdings Corp. Announces the Successful Completion of Sale & Purchase Transactions
27 November 2018 - 1:00AM
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP)
reported today the successful completion of the previously
announced sale and purchase agreements. On November 22, 2018 the
Company took delivery of the M/V Fellowship, a 179,759 deadweight
ton (“dwt”) Capesize dry bulk vessel, built in 2010 at Daewoo
Shipbuilding in South Korea. The Company entered into the agreement
to acquire the M/V Fellowship in August 2018.
Furthermore, the Company has completed the sales
of two Chinese built Supramax vessels. Specifically, the M/V
Gladiatorship, built in 2010 at CSC Jinling Shipyard, was delivered
to its new owners on October 11, 2018 and the M/V Guardianship,
built in 2011 at the same yard, was delivered to its new owner on
November 19, 2018.
The acquisition of the M/V Fellowship was
financed by a combination of cash on hand and a senior loan
facility. The existing lender of the two sold Supramax vessels
agreed to rollover the underlying loan amount by funding the
acquisition of the M/V Fellowship on substantially the same
terms.
The M/V Fellowship is currently on time-charter
to a major European charterer at a gross daily rate of $17,150,
with latest redelivery in January 2019.
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“We are pleased to take delivery of another high
quality modern Capesize vessel built in S. Korea. We remain
committed to further accretive acquisitions in the Capesize
segment, as we strongly believe that it has the best fundamentals
in the dry bulk industry. Following the addition of the M/V
Fellowship to our fleet, Seanergy is now the only pure-play
Capesize owner publicly listed in the U.S.”
The Company currently operates the following fleet:
Vessel Name |
Vessel Class |
Capacity (in dwt) |
Year Built |
Yard |
Fellowship |
Capesize |
179,759 |
2010 |
Daewoo |
Championship |
Capesize |
179,238 |
2011 |
Sungdong |
Partnership |
Capesize |
179,213 |
2012 |
Hyundai |
Knightship |
Capesize |
178,978 |
2010 |
Hyundai |
Lordship |
Capesize |
178,838 |
2010 |
Hyundai |
Gloriuship |
Capesize |
171,320 |
2004 |
Hyundai |
Leadership |
Capesize |
171,199 |
2001 |
Koyo – Imabari |
Geniuship |
Capesize |
170,057 |
2010 |
Sungdong |
Premiership |
Capesize |
170,024 |
2010 |
Sungdong |
Squireship |
Capesize |
170,018 |
2010 |
Sungdong |
Total / Average |
|
1,748,644 |
9.7
years |
|
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is the only
pure-play Capesize shipowner publicly listed in the U.S. Seanergy
provides marine dry bulk transportation services through a modern
fleet of 10 Capesize vessels, with a cargo-carrying capacity of
approximately 1,748,644 dwt and an average fleet age of about 9.7
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 trade on the Nasdaq Capital
Market under the symbol "SHIP" and class A warrants under
"SHIPW".
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 service its indebtedness; 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.
For further information please
contact:Capital Link, Inc.Paul Lampoutis230 Park Avenue
Suite 1536New York, NY 10169Tel: (212) 661-7566E-mail:
seanergy@capitallink.com
Seanergy Maritime (NASDAQ:SHIP)
Historical Stock Chart
From Apr 2024 to May 2024
Seanergy Maritime (NASDAQ:SHIP)
Historical Stock Chart
From May 2023 to May 2024