Dry CargoEurope

Seanergy seals $31m financing for capesize pair and new charter for upcoming vessel

Greek capesize owner Seanergy Maritime has secured a fixed-rate time charter deal with an existing US commodity trading charterer and concluded the financing of two of its new acquisitions through a sale and leaseback agreement with a Chinese financial institution.

The Nasdaq-listed firm has fixed its soon-to-be-delivered capesize vessel Worldship at a daily rate of $31,750 for about 12 to 16 months. The charter should commence in August this year.

Moreover, Seanergy sold and chartered back its 2012-built Hellasship and the 2010-built Patriotship on a bareboat basis for five years and the combined financing amount of close to $31m. The company can repurchase the vessels after two years, or take them back for $15.3m at the end of the 5-year bareboat period.

Following the delivery of the Worldship to its charterer, 93% of the company’s fleet will be employed under medium to long-term time charters.

Seanergy recently struck a deal to offload its oldest capesize bulker and to acquire an eight-year younger vessel. On a fully delivered basis, Seanergy’s operating fleet will consist of 16 capesize vessels with an average age of 11.4 years.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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