Seanergy: New $ 31 Million Financing Agreement

Seanergy Maritime Holdings announced the financing of two of its new acquisitions of M / V Hellasship and M / V Patriotship through a lease with a leading Chinese bank, along with a new ship charter.

In particular, the company agreed on a time charter for the M / V Worldship lasting 12 to 16 months and a fixed daily fare of $ 31,750. The charter is expected to start immediately after the delivery of the ship, in mid-August. Seanergy’s charter revenue is estimated to exceed $ 15 million.

Also regarding the financing of M / V Hellasship and M / V Patriotship, the firm announced that the financing of the two ships amounts to 30.9 million dollars, the interest rate in LIBOR + 3.5% and has a duration of five years. The financing is in the form of a lease with a leading Chinese bank.

Mr. Stamatis Tsantanis, President and CEO of the Company, said: “I am pleased to announce another significant financing for Seanergy, by incorporating an internationally renowned Chinese financial institution into our group of lenders. All recent financing of the Company has fully competitive terms, thus increasing the Company’s net cash flows and profit margins.

In addition, choosing a particularly favorable market period, we chartered our second ship at a fixed daily fare of over $ 30,000 in a long-term charter. Now, 93% of the fleet will be in medium-long term charters.

The consistent implementation of our strategy in 2021 until today, has had a positive impact on the Company. “We continue to explore partnerships and seize market opportunities to further increase the value of our shareholders.”

Seanergy Maritime Holdings Corp. is the only company listed on the US stock exchange that exclusively manages a fleet of Capesize type ships. Upon completion of the agreed deliveries, the Company’s fleet will consist of 16 Capesize type ships, with a total carrying capacity of approximately 2,829,631 tons and an average fleet age of approximately 11.4 years.