Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) reported today the delivery of two previously-announced Capesize vessel acquisitions. The first vessel is a 181,709 dwt Capesize bulk carrier, built in 2010 by Imabari Shipbuilding Co., Ltd. in Japan, which was renamed M/V Patriotship, and the second is a 176,925 dwt Capesize bulk carrier, built in 2006 by Namura Shipbuilding Co., Ltd. in Japan, which was renamed M/V Tradership (the “Vessels”).

Taking advantage of the strong market conditions, Seanergy fixed the M/V Patriotship proactively at $31,000 per day for a period employment of 12 to 18 months with a major European cargo operator. Additionally, the M/V Tradership has been fixed for a period employment of 11 to 15 months with a major South Korean industrial company at an index-linked rate based on the Baltic Capesize Index. Both time charters are expected to commence promptly, upon finalization of the customary handover process.

Moreover, the Company is in advanced discussions with a leading Asian financial institution to finance part of the acquisition price of the M/V Patriotship through a sale and leaseback structure at competitive terms.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“I am pleased to announce the timely delivery of our fourteenth and fifteenth Capesize vessels and the immediate commencement of their respective period employments.

We are also excited to initiate business relationships with two additional reputable charterers. Including these deliveries, 87% of our operating fleet is employed under advantageous medium to long-term charters.

At the financing front, we have secured competitively-priced financings for our recent vessel acquisitions, as previously announced, which will further enhance our strong liquidity position and reduce the Company’s average cash interest expense.

We believe Seanergy is optimally positioned to take advantage of the rising market conditions.”

Company fleet on a fully delivered basis:

Vessel NameVessel Size ClassCapacity (DWT)Year BuiltYardScrubber FittedEmployment Type
PartnershipCapesize179,2132012HyundaiYesT/C Index Linked
ChampionshipCapesize179,2382011SungdongYesT/C Index Linked
LordshipCapesize178,8382010HyundaiYesT/C Index Linked
PremiershipCapesize170,0242010SungdongYesT/C Index Linked
SquireshipCapesize170,0182010SungdongYesT/C Index Linked
KnightshipCapesize178,9782010HyundaiYesT/C Index Linked
GloriushipCapesize171,3142004HyundaiNoT/C Index Linked
FellowshipCapesize179,7012010DaewooNoT/C Index Linked
GeniushipCapesize170,0582010SungdongNoT/C Index Linked
HellasshipCapesize181,3252012ImabariNoT/C Index Linked
FlagshipCapesize176,3872013Mitsui EngineeringNoT/C Index Linked
PatriotshipCapesize181,7092010Saijo – ImabariYesT/C Fixed Rate -$31,000/day
TradershipCapesize176,9252006Namura ShipbuildingNoT/C Index Linked
LeadershipCapesize171,1992001Koyo – ImabariNoVoyage/Spot
GoodshipCapesize177,5362005Mitsui EngineeringNoVoyage/Spot
Worldship *Capesize181,4152012Japanese ShipyardYesN/A
Total / Average age2,823,87811.8

* Delivery expected within August 2021

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. On a fully-delivered basis, the Company’s operating fleet will consist of 16 Capesize vessels with an average age of 11.8 years and aggregate cargo carrying capacity of approximately 2,823,878 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”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.