GlobeNewswire Inc | Dec 2, 2021 01:37PM EST

December 02, 2021

Seanergy Maritime Announces Delivery & Immediate Period Employmentof M/V Dukeship

December2, 2021 - Glyfada, Greece - Seanergy Maritime Holdings Corp. (the Company or Seanergy) (NASDAQ: SHIP) announced today the delivery of a previously-announced Capesize vessel acquisition, M/V Dukeship (the Vessel), and the simultaneous commencement of its time charter (T/C) employment. In addition, the Company has successfully closed the previously-announced sustainability-linked loan facility with Piraeus Bank (the Facility).

Delivery oftheM/V Dukeship

The M/VDukeship, a 181,500-dwt Capesize bulk carrier, built in 2010 by Sasebo Heavy Industries in Japan, was delivered to Seanergy on November 26, 2021 and has already commenced the T/C with its charterers, NYK, for a term of about 13 to 18 months. The gross daily rate is based at a premium over the Baltic Capesize Index.

Following this delivery, the seventh in 2021 to-date, Seanergys fleet has increased to 17 Capesize vessels with an aggregate cargo carrying capacity that exceeds 3 million dwt.

Sustainability-linked loan

The previously-announced sustainability-linked loan was drawn on November 15, 2021. The $16.85 million principal will amortize over a five-year term with a final balloon payment of $6.1 million at maturity and an interest rate of 3.05% plus LIBOR per annum. The pricing can be further improved based on certain emission reduction thresholds.

Stamatis Tsantanis, the Companys Chairman & Chief Executive Officer, stated:

I am very pleased with the final delivery of our 17th capesize vessel in a great market timing. The Dukeship already commenced its time-charter with a world renowned charterer.

Our fleet is now 100% under period employment, with the vast majority on index-linked T/Cs.The current Baltic Capesize Index is $37,600 per day.

Finally, the recent closing of the sustainability-linked loan facility reiterates our solid commitment to our ESG objectives.

Company fleet

Vessel Name Vessel Capacity Year Yard Scrubber Employment Minimum T/ Class (DWT) Built Fitted C durationPatriotship Capesize 181,709 2010 Imabari Yes T/C ? fixed 1 year rateDukeship Capesize 181,453 2010 Sasebo No T/C Index 13 months LinkedWorldship Capesize 181,415 2012 Koyo - Yes T/C ? fixed 1 year Imabari rateHellasship Capesize 181,325 2012 Imabari No T/C Index 11 months LinkedFellowship Capesize 179,701 2010 Daewoo No T/C Index 1 year LinkedChampionship Capesize 179,238 2011 Sungdong Yes T/C Index 5 years SB LinkedPartnership Capesize 179,213 2012 Hyundai Yes T/C Index 3 years LinkedKnightship Capesize 178,978 2010 Hyundai Yes T/C Index 3 years LinkedLordship Capesize 178,838 2010 Hyundai Yes T/C Index 3 years LinkedGoodship Capesize 177,536 2005 Mitsui No T/C Index 9 months LinkedFriendship Capesize 176,952 2009 Namura No T/C Index 17 months LinkedTradership Capesize 176,925 2006 Namura No T/C Index 11 months LinkedFlagship Capesize 176,387 2013 Mitsui No T/C Index 5 years LinkedGloriuship Capesize 171,314 2004 Hyundai No T/C Index 10 months LinkedGeniuship Capesize 170,057 2010 Sungdong No T/C Index 11 months SB LinkedPremiership Capesize 170,024 2010 Sungdong Yes T/C Index 3 years SB LinkedSquireship Capesize 170,018 2010 Sungdong Yes T/C Index 3 years SB LinkedTotal / 3,011,083 11.7 Average age

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company's operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol SHIP, its Class A warrants under SHIPW and its Class B warrants under SHIPZ.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "may", "should", "expects", "intends", "plans", "believes", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company's filings with the SEC, including its most recent annual report on Form 20-F. The Company's filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor RelationsTel: +30 213 0181 522E-mail: ir@seanergy.gr

Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1536New York, NY 10169Tel: (212) 661-7566



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