Seanergy quits supramaxes

Seanergy quits supramaxes

NASDAQ-listed Seanergy Maritime Holdings Corp has entered into definitive agreements with unaffiliated third parties for the purchase of a modern secondhand capesize vessel and the sale of two supramax dry bulk vessels. The transactions are expected to be completed in the fourth quarter of 2018. Following these transactions, Seanergy will be the only pure-play capesize vessel owner listed in the US public markets. The latest cape is a 2010-built 180,000 dwt ship and is costing $28.7m.

The two supramaxes sold, meanwhile, are the 2010-built Gladiatorship and the 2011-built Guardianship. The aggregate gross sale price is approximately $23m.

Stamatis Tsantanis, the company’s chairman and CEO, stated: “We are pleased to announce these transformational transactions, which will result in the company becoming the first pure-play capesize owner listed in the US public markets. These transactions increase Seanergy’s capesize cargo carrying capacity to 1,748,638 dwt without diluting our shareholders or increasing our corporate leverage. This is consistent with our plan of focusing and growing Seanergy’s presence on the Capesize market, which we believe offers the best fundamentals in the dry bulk industry.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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