Seanergy Maritime Expands Fleet with Capesize Bulker

Greek dry bulk shipping company Seanergy Maritime Holdings Corp. has taken delivery of M/V Partnership, a Capesize vessel bought from South Korea’s Dong-A-Tanker (DAT) in April.

As disclosed, the company funded the gross purchase price of USD 32.65 million by a secured loan facility from a European bank and from financing arrangements with Seanergy’s sponsor.

Previously named Dong A Artemis, the 179,213 dwt bulker was built by South Korean shipbuilder Hyundai Heavy Industries (HHI) in 2012.

“We are pleased to take delivery of another modern Capesize vessel. We remain committed to expanding our quality fleet in the Capesize segment, which we strongly believe represents the best fundamentals in the dry bulk industry. We will continue to actively pursue accretive acquisition opportunities of quality Capesize vessels,” Stamatis Tsantanis, Seanergy’s CEO, commented.

Including the latest addition, Seanergy’s fleet is currently comprised of eleven dry bulk carriers, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8 years.

Earlier this week, Seanergy was notified by the Nasdaq Stock Market that it is not in compliance with a Nasdaq Listing Rule as the closing bid of its common stock was below the required minimum of USD 1 per share.

The company has been now given a grace period of 180 days, or until November 14, 2017, to regain the compliance.

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