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Seanergy Maritime to purchase modern capsize vessel

Published by , Digital Assistant Editor
Dry Bulk,

Seanergy Maritime Holdings Corp. has announced that it has entered into an agreement with an unaffiliated third party for the purchase of a secondhand Capesize vessel, with a cargo-carrying capacity of 179 213 DWT.

The vessel was built in 2012 at Hyundai in South Korea.

The vessel is to be delivered by May 2017, subject to the satisfaction of certain customary closing conditions. The company expects to fund the gross purchase price of US$32.65 million by a secured loan facility from financial institutions and financing arrangements with the company’s sponsor.

Stamatis Tsantanis, CEO of Seanergy commented: “We are very pleased to announce another acquisition of a modern Capesize vessel. This high quality Capesize vessel marks our first acquisition of 2017 and follows the successful acquisition and delivery of two sistership Capesizes in the fourth quarter of 2016. In addition, this purchase allows us to expand further our sizable position in the Capesize segment. We strongly believe that the Capesize segment represents the best fundamentals in the dry bulk industry and we will continue to actively pursue accretive acquisition opportunities of quality Capesize vessels with an aim of increasing value for our shareholders.”

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Dry bulk shipping market