Seanergy and NYK Line Announce Successful Completion of Biofuel Trials on a Capesize Vessel
March 16 2022 - 4:00AM
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced today
that it has successfully completed marine biofuel trials in
cooperation with one of its major charterers, NYK Line, on one of
the Company’s Capesize Vessels.
The biofuel is a 0.50% VLSFO blended with a
waste-based and ISCC certified FAME component at a 90% - 10% ratio.
Advanced real time monitoring instruments and AI have been used to
assess the results of the trials.
The capesize vessel (177,000 dwt, built in 2009
in Japan) was transporting cargo of the global mining company,
Anglo American, and was bunkered with the biofuel in Singapore by
TotalEnergies Marine Fuels, a dedicated business unit in charge of
worldwide bunkering activities at the port of Singapore. The
Biofuel was consumed during her two-way voyage between Singapore
and Saldanha Bay, South Africa. The trials demonstrated that the
biofuel can result in up to 10% CO2 emissions reduction, when
compared with conventional marine fuel, and that it can be safely
used in relevant marine applications, without any
modifications.
Stelios Psillakis, the Company’s
Technical Director, stated:
“The new marine biofuels coming to market can
contribute significantly to the imminent need to reduce the GHG
emissions. We strongly believe that using biofuels, in combination
with the Energy Saving Devices (“ESDs”) installed or to be
installed on our vessels, will cater for a smooth transition to
greener energy, whilst providing a competitive and compliance
advantage for early movers. Beyond 2030, we expect the marine
industry to be technologically mature to adopt alternative energy
solutions.”
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“Sustainability, energy efficiency and reduction
of GHG emissions are on the very top of our strategic agenda. Our
cooperation with our charterers affirms the obvious notion that the
environmental targets can be met with the alignment of interests
among shipping companies, charterers, regional governments and the
International Maritime Organization.
“Until new technologies become widely available
in the next years, we should focus on implementing proven solutions
on the existing global fleet with the support of all stakeholders
of our industry. Seanergy is taking decisive steps towards this
direction.”
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 modern
fleet of Capesize vessels. The Company's operating fleet consists
of 17 Capesize vessels with an average age of 12 years and
aggregate cargo carrying capacity of approximately 3,011,083
dwt.
The Company is incorporated in the Marshall
Islands and has executive offices in Glyfada, Greece. The Company's
common shares trade on the Nasdaq Capital Market under the symbol
“SHIP” 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; broader
market impacts arising from war (or threatened war) or
international hostilities, such as between Russia and Ukraine;
risks associated with the length and severity of the ongoing novel
coronavirus (COVID-19) outbreak, including its effects on demand
for dry bulk products and the transportation thereof; 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:
Seanergy Investor RelationsTel: +30 213 0181 522E-mail:
ir@seanergy.gr
Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1536New
York, NY 10169Tel: (212) 661-7566E-mail:
seanergy@capitallink.com
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