Seanergy Maritime Holdings to acquire two additional Capesize vessels
Seanergy Maritime Holdings Corp. has entered into agreements with unaffiliated third parties to purchase two Capesize vessels, according to the company's release.
Following the delivery, the size of the Company’s fleet will increase to 14 Capesize vessels with an aggregate cargo capacity of approximately 2.5 million dwt. The first vessel was built in 2013at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 176,000deadweight tons (“dwt”) and shall be renamed M/VFlagship.
The vessel is expected to be delivered to the Company by the end of April 2021, subject to the satisfaction of certain customary closing conditions. The second vessel was built in 2010 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 182,000 dwt and shall be renamed M/VPatriotship. The vessel is expected to be delivered to the Company by theend of May 2021, subject to the satisfaction of certain customary closing conditions.
The special survey and ballast water treatment system installation for both vessels were completed recently by the current owners and therefore the Company does not anticipate incurring significant capital expenditure for these vessels at least for the next two years.
Moreover, M/V Patriotshipis fitted with an exhaust gas cleaning system (scrubber). The aggregate purchase price for the two vessels is approximately $55 million and is expected to be funded with cash on hand. The Company is also in discussions with leading financial institutions to finance part of the acquisition cost at competitive financing terms.
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. Upon delivery of the new vessels, the Company's operating fleet will consist of 14
Capesize vessels with an average age of 12 years and aggregate cargo carrying capacity of approximately 2,461,138dwt. 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", its Class A warrants under "SHIPW" andits Class B warrants under “SHIPZ”.
