Seanergy Maritime Announces Delivery & Immediate Period Employment of M/V Dukeship
December 02 2021 - 1:37PM
Seanergy
Maritime Announces
Delivery & Immediate
Period Employment of M/V Dukeship
December
2, 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
of the M/V
Dukeship
The M/V Dukeship, 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, Seanergy’s 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 Company’s
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 Class |
Capacity (DWT) |
Year Built |
Yard |
Scrubber Fitted |
Employment |
Minimum T/C duration |
|
Patriotship |
Capesize |
181,709 |
2010 |
Imabari |
Yes |
T/C – fixed rate |
1 year |
|
Dukeship |
Capesize |
181,453 |
2010 |
Sasebo |
No |
T/C Index Linked |
13 months |
|
Worldship |
Capesize |
181,415 |
2012 |
Koyo - Imabari |
Yes |
T/C – fixed rate |
1 year |
|
Hellasship |
Capesize |
181,325 |
2012 |
Imabari |
No |
T/C Index Linked |
11 months |
|
Fellowship |
Capesize |
179,701 |
2010 |
Daewoo |
No |
T/C Index Linked |
1 year |
|
Championship |
Capesize |
179,238 |
2011 |
Sungdong SB |
Yes |
T/C Index Linked |
5 years |
|
Partnership |
Capesize |
179,213 |
2012 |
Hyundai |
Yes |
T/C Index Linked |
3 years |
|
Knightship |
Capesize |
178,978 |
2010 |
Hyundai |
Yes |
T/C Index Linked |
3 years |
|
Lordship |
Capesize |
178,838 |
2010 |
Hyundai |
Yes |
T/C Index Linked |
3 years |
|
Goodship |
Capesize |
177,536 |
2005 |
Mitsui |
No |
T/C Index Linked |
9 months |
|
Friendship |
Capesize |
176,952 |
2009 |
Namura |
No |
T/C Index Linked |
17 months |
|
Tradership |
Capesize |
176,925 |
2006 |
Namura |
No |
T/C Index Linked |
11 months |
|
Flagship |
Capesize |
176,387 |
2013 |
Mitsui |
No |
T/C Index Linked |
5 years |
|
Gloriuship |
Capesize |
171,314 |
2004 |
Hyundai |
No |
T/C Index Linked |
10 months |
|
Geniuship |
Capesize |
170,057 |
2010 |
Sungdong SB |
No |
T/C Index Linked |
11 months |
|
Premiership |
Capesize |
170,024 |
2010 |
Sungdong SB |
Yes |
T/C Index Linked |
3 years |
|
Squireship |
Capesize |
170,018 |
2010 |
Sungdong SB |
Yes |
T/C Index Linked |
3 years |
|
Total / Average age |
|
3,011,083 |
11.7 |
|
|
|
|
|
|
|
|
|
|
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
- 2021-2-12_SHIP PR MV Dukeship delivery_Sustainability-linked
loan
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