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Seanergy secures refinancing for capesize pair

Greek pure-play capesize owner Seanergy Maritime Holdings has secured $29.1m to refinance a loan facility that was originally due to mature at the end of June.

The company is securing the new loan with capesizes Geniuship and Gloriuship in line with the previous loan. The new facility will have a five-year term, and will lower the break-even rates of the two vessels. 

The new loan is has yet to be finalised, and in the meantime Seanergy has reached an agreement to extend its original loan term through to July 31.

Stamatis Tsantanis, chairman and CEO of Seanergy, commented: “We are very pleased to announce this important development for our Company, as it will allow us to timely refinance an imminent loan maturity, with a new five-year facility that will have a positive impact on the break-even rates of the vessels, at a time when the earnings environment is improving considerably.”

Seanergy owns a fleet of ten capesize bulkers with an average fleet age of around 11 years.

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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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