Seanergy Maritime Expands Fleet with Japanese Ships

Seanergy Maritime Holdings Corp., a dry bulk transportation company, has announced the expansion of its fleet with the acquisition of two Japanese vessels: a Newcastlemax and a Capesize. The acquisition was made through definitive agreements with third-party Japanese companies and involves a total cost of approximately $69 million. The Newcastlemax vessel, built in 2013, boasts a capacity of 207,851 deadweight tons, while the Capesize vessel, built in 2011, has a capacity of 178,459 dwt. The Capesize acquisition is carried out through a 6-month bareboat charter, with a down payment and final purchase obligation. This strategic move aligns with Seanergy's ambition for disciplined growth and capital allocation, aimed at bolstering its market position despite current sector challenges. Chairman & CEO Stamatis Tsantanis expressed optimism regarding future shareholder returns and market prospects. The total fleet will expand to 21 vessels, further affirming Seanergy’s strategy to enhance operational capabilities as the sector faces fluctuating dynamics.