Benzinga | Oct 19, 2021 03:51PM EDT

Seanergy Maritime Acquires 2010-Built Capesize Vessel For $34.3M

* Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has agreed to purchase a Capesize vessel for $34.3 million. The Vessel, built-in 2010 at a shipyard in Japan, has a cargo-carrying capacity of 181,500 deadweight tons and will be renamed M/V Dukeship.

* The company expects the M/V Dukeship delivery within November 2021. Following her delivery, Seanergy's fleet will increase to 17 Capesize vessels with an aggregate cargo capacity exceeding 3 million dwt.

* Seanergy Maritime expects to fund the deal with cash on hand. It held cash and equivalent of $56.4 million.

* Recently the company completed the sale and delivery of its oldest Capesize Vessel, the M/V Leadership, 2001-built, to its new owners.

* Price Action: SHIP shares are trading higher by 0.76% at $1.31 on the last check Tuesday.