Dry CargoEurope

Seanergy adds two more capes, taking fleet to 14

Nasdaq-listed Greek capesize bulker owner Seanergy Maritime Holdings has acquired two secondhand capesize vessels.

Seanergy has splashed out $55m for the Japanese pair, a 2013-built 176,000 dwt cape and a 2010-built 182,000 dwt cape.

Brokers have yet to identify the 2013-built cape, however are reporting the sale of the 2010-built Bulk Switzerland to Seanergy. The vessel, owned by Japan’s Eiko Kisen, had earlier been linked with Germany´s Valhal.

Delivery of the 2013-built cape is scheduled for April, when it will be renamed Flagship, while the Bulk Switzerland is due in May and will be renamed Patriotship.

Seanergy is also expecting the delivery of 2006-built capesize Cape Trust, which was acquired from Japan’s Osaka Asahi Kaiun last month. The vessel is being renamed Tradership, and together with this latest deal takes Seanergy’s fleet to 14 vessels in total.

Stamatis Tsantanis, chairman and CEO of Seanergy, commented: “The M/Vs Flagship and Patriotship, both delivering promptly and in a rapidly increasing market environment, represent great added value for Seanergy, the only US listed pure-play capesize company. Following the delivery of these two vessels and a third acquisition announced last month, our fleet’s cargo carrying capacity will increase by 28% as compared to the beginning of the year.”

Seanergy says the acquisition will be funded with cash on hand, adding that it is also in discussions to finance part of the acquisition cost.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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