Seanergy Maritime Holdings Corp. Announces Successful Delivery of the Capesize Vessel M/V Goodship
August 11 2020 - 9:00AM
Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP)
announced that it has taken delivery of a 177,536 dwt Capesize dry
bulk vessel, renamed to M/V Goodship and built in 2005 by Mitsui
Engineering & Shipbuilding Co. Ltd. in Japan. The Company
funded the gross purchase price of $11.4 million with cash on hand
as sourced through its recent capital markets activities.
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“We are pleased with the successful delivery of
our eleventh cape vessel. This acquisition was agreed at what we
believe to be a historically low purchase price, while the delivery
is well timed as it is completed during a strong Capesize market
with spot rates at approximately $20,000 per day.
Seanergy is the only shipping company publicly
listed in the US with a pure-play Capesize fleet. We strongly
believe that our segment represents the best fundamentals in the
dry bulk industry. We will continue to actively pursue accretive
transactions that will further increase value for our
shareholders.”
|
Company Fleet following vessel’s delivery: |
|
Vessel Name |
Vessel Class |
Capacity (DWT) |
Year Built |
Yard |
Employment |
|
Partnership |
Capesize |
179,213 |
2012 |
Hyundai |
T/C Index Linked (1) |
|
Championship |
Capesize |
179,238 |
2011 |
Sungdong |
T/C Index Linked (2) |
|
Lordship |
Capesize |
178,838 |
2010 |
Hyundai |
T/C Index Linked (3) |
|
Premiership |
Capesize |
170,024 |
2010 |
Sungdong |
T/C Index Linked (4) |
|
Squireship |
Capesize |
170,018 |
2010 |
Sungdong |
T/C Index Linked (5) |
|
Knightship |
Capesize |
178,978 |
2010 |
Hyundai |
T/C Index Linked (6) |
|
Gloriuship |
Capesize |
171,314 |
2004 |
Hyundai |
T/C Index Linked (7) |
|
Fellowship |
Capesize |
179,701 |
2010 |
Daewoo |
Voyage Charter |
|
Geniuship |
Capesize |
170,058 |
2010 |
Sungdong |
Voyage Charter |
|
Goodship |
Capesize |
177,536 |
2005 |
Mitsui Engineering |
Voyage Charter |
|
Leadership |
Capesize |
171,199 |
2001 |
Koyo – Imabari |
Voyage Charter |
Total |
|
1,926,117 |
|
11.5 |
|
|
(1) |
|
This vessel is
chartered by a major European utility and energy company and was
delivered to the charterer on September 11, 2019, for a period of
minimum 33 to maximum 37 months with an optional period of 11-13
months. The net daily charter hire is calculated at an index linked
rate based on the 5 T/C routes rate of the BCI. In addition, the
time charter provides the option for any period of time during the
hire to be converted into a fixed rate time charter, between 3 and
12 months, with a rate corresponding to the prevailing value of the
respective Capesize Forward Freight Agreement rate (“FFA”) for the
selected period. |
|
|
|
(2) |
|
This vessel is chartered by Cargill. The vessel was delivered
to the charterer on November 7, 2018 for a period of employment of
60 months, with an additional period of 24 to 27 months at the
charterer’s option. The net daily charter hire is calculated at an
index linked rate based on the 5 T/C routes of the BCI plus a gross
daily scrubber premium of $1,740. In addition, the time charter
provides the option to convert the index linked rate to a fixed
rate for a period of between 3 and 12 months priced at the then
prevailing Capesize FFA for the selected period. |
|
|
|
(3) |
|
This vessel is chartered by a major European utility and energy
company and was delivered to the charterer on August 4, 2019, for a
period of minimum 33 to maximum 37 months with an optional period
of 11-13 months. The net daily charter hire is calculated at an
index linked rate based on the 5 T/C routes rate of the BCI plus a
net daily scrubber premium of $3,735 until May 2021. In addition,
the time charter provides the option for any period of time during
the hire to be converted into a fixed rate time charter, between 3
and 12 months, with a rate corresponding to the prevailing value of
the respective Capesize FFA for the selected period. |
|
|
|
(4) |
|
This vessel is chartered by Glencore and was delivered to the
charterer on November 29, 2019 for a period of minimum 36 to
maximum 42 months with two optional periods of 11-13 months. The
net daily charter hire is calculated at an index linked rate based
on the 5 T/C routes rate of the BCI plus a net daily scrubber
premium of $2,055. |
|
|
|
(5) |
|
This vessel is chartered by Glencore and was delivered to the
charterer on December 19, 2019 for a period of minimum 36 to
maximum 42 months with two optional periods of 11-13 months. The
net daily charter hire is calculated at an index linked rate based
on the 5 T/C routes rate of the BCI plus a gross daily scrubber
premium of $2,055. |
|
|
|
(6) |
|
This vessel is chartered by Glencore and was delivered to the
charterer in May 2020 for a period of about 36 to about 42 months
with two optional periods of 11-13 months. The net daily charter
hire is calculated at an index linked rate based on the 5 T/C
routes rate of the BCI. |
|
|
|
(7) |
|
This vessel is chartered by a dry bulk charter operator and was
delivered to the charterer on April 23, 2020 for a period of
minimum 10 to maximum 14 months. The net daily charter hire is
calculated at an index linked rate based on the five T/C routes of
the BCI. In addition, the time charter provides the option to
convert the index linked rate to a fixed rate for a period of
between 3 and 12 months priced at the then prevailing Capesize FFA
for the selected period. |
|
|
|
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is the only
pure-play Capesize ship-owner publicly listed in the US. Seanergy
provides marine dry bulk transportation services through a fleet of
11 Capesize vessels with an average age of about 11.5 years and
aggregate cargo carrying capacity of approximately 1,926,117
dwt.
The Company is incorporated in the Marshall
Islands and has 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", its Class A warrants under
"SHIPW" and its Class B warrants under “SHIPZ”.
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 the Registration Statement and 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. Judit Csepregi 230 Park
Avenue Suite 1536 New York, NY 10169 Tel: (212) 661-7566 E-mail:
seanergy@capitallink.com
Seanergy Maritime (NASDAQ:SHIPW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Seanergy Maritime (NASDAQ:SHIPW)
Historical Stock Chart
From Sep 2023 to Sep 2024