Seanergy Maritime Holdings Corp. has entered into agreements with unaffiliated third parties to purchase two Capesize vessels, says a press release published on their website.
The new acquisition
Glyfada, Greece, headquartered Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) reports that it has entered into agreements with unaffiliated third parties that will see it pay a total of about $55 million to purchase two Capesize vessels, one built in 2013, the other in 2010.
The agreement
Seanergy Maritime Holdings Corp. announces that it has reached an agreement with the third party to purchase two capesize vessels further increasing the Company’s fleet to 14 capesize vessels with an aggregate cargo capacity of approximately 2.5 million dwt.
The aggregate purchase price for the two vessels is approximately $55 million and is expected to be funded with cash on hand.
M/V Flagship and M/V Patriotship
The first vessel was built in 2013 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 176,000 deadweight tons and shall be renamed M/V Flagship. The vessel is expected to be delivered to the Company by the end of April 2021, subject to the satisfaction of certain customary closing conditions.
The second vessel was built in 2010 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 182,000 dwt and shall be renamed M/V Patriotship. The vessel is expected to be delivered to the Company by the end of May 2021, subject to the satisfaction of certain customary closing conditions.
The CEO’s statement on the acquisition
The chairman and CEO of the company stated that,“We are very pleased to announce the acquisition of two high-quality Capesize vessels built at reputable shipyards in Japan. The M/Vs Flagship and Patriotship, both delivering promptly and in a rapidly increasing market environment, represent great added value for Seanergy, the only U.S. listed pure-play Capesize company. Following the delivery of these two vessels and a third acquisition announced last month, our fleet’s cargo carrying capacity will increase by 28% as compared to the beginning of the year.”
“Since the beginning of 2021 we have concluded or have agreed to significant accretive transactions and we will continue to actively pursue similar deals, aiming to create substantial shareholder value in the coming years.”
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Source: SeanergyMaritime
