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Seanergy sells and buys cape in bulker fleet renewal

Greek capesize owner Seanergy Maritime is pressing forward with its fleet renewal plan with new deals in place to offload its oldest capesize bulker and to acquire an eight-year younger vessel.

The Nasdaq-listed firm is selling its 2001-built capesize vessel Leadership to an undisclosed far-eastern buyer for $12m, expected to be delivered to its new owners within the third quarter of 2021.

In addition, Seanergy has snapped up a 2009-built capesize from Japanese owners for $24.6m. The vessel is expected to be delivered this month and will be renamed Friendship.

“The M/V Friendship will replace the M/V Leadership, our oldest vessel, improving the age and operating profile of the fleet. This is consistent with our fleet growth and renewal strategy that will ensure that our fleet remains competitive, efficient, and fully compliant with the upcoming environmental regulations,” said Stamatis Tsantanis, chairman and CEO of Seaenergy.

On a fully delivered basis, Seanergy’s operating fleet will consist of 16 capesize vessels with an average age of 11.4 years. The total capesize acquisition capex for the company year-to-date adds up to around $160m.

“We remain committed to further accretive acquisitions in the capesize segment, and we believe Seanergy is optimally positioned to take advantage of an unfolding super-cycle,” Tsantanis added.

Adis Ajdin

Adis is an experienced news reporter with a background 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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