Capesize Bulker Duo Joins Seanergy’s Fleet

Greek-based owner and operator of dry bulk vessels Seanergy Maritime Holdings Corp. has taken delivery of two Capesize dry bulk vessels, namely M/V Gloriuship and M/V Squireship.

Both the M/V Gloriuship, built in 2004 by Hyundai Heavy Industries Co., and the M/V Squireship, built in 2010 by Sungdong Shipbuilding & Marine Engineering Co., will be employed in the spot market.

The vessels, featuring 171,314 DWT and  170,018 DWT respectively, are the fifth and the sixth secondhand dry bulk ships that the company has agreed to acquire for a gross purchase price of approximately USD 183 million. According to the company’s announcement, the acquisition cost of the M/V Gloriuship and the M/V Squireship has been funded by senior secured loan agreements with international financial institutions and by a funding arrangement with the company’s sponsor.

The acquisition of the seventh Capesize vessel is expected to be completed by November 30, 2015.

Following the acquisition of the remaining vessel Seanergy will have a fleet of a total of eight dry bulk carriers, six Capesizes and two Supramaxes, with a combined cargo-carrying capacity of around 1.1 million DWT and an average fleet age of about 7.1 years.

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