Benzinga | Feb 16, 2021 09:03AM EST

Seanergy Maritime Holdings Corp. Announces Agreement To Acquire Additional Capesize Vessel

GLYFADA, Greece, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ:SHIP) announced today that it has entered into a definitive agreement with an unaffiliated third party to purchase a Capesize vessel (the "Vessel").



The Vessel was built in 2006 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 177,000 deadweight tons ("dwt") and shall be renamed M/V Tradership. The Vessel is expected to be delivered towards the end of the first quarter or early in the second quarter of 2021, subject to the satisfaction of certain customary closing conditions. Following her delivery, the size of the Company's fleet will increase to 12 Capesize vessels with an aggregate cargo capacity of approximately 2,103,042 dwt.

The special survey and ballast water system installation for the Vessel were completed recently by the current owner and therefore the Company does not anticipate incurring any off-hire or significant capital expenditure for this Vessel at least for the next two years. The gross purchase price of $17 million is expected to be funded with cash on hand.