Seanergy Maritime Holdings Corp. Announces Delivery And Charter of M/V Iconship


Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has announced the delivery of the Capesize vessel, M/V Iconship, which is a 181,392 dwt bulk carrier built in 2013 by Imabari Shipbuilding Co., Ltd. in Japan. The vessel has been chartered to Costamare Bulkers Inc. for about 22 months, with daily hire based on a premium over the Baltic Capesize Index (BCI). Seanergy can convert the hire rate from index-linked to fixed for 2 to 12 months based on the Capesize Forward Freight Agreement (FFA) curve. The acquisition was financed with cash and proceeds from a sale and leaseback agreement, according to an article published on their website.

New Time Charter for M/V Lordship

Seanergy also fixed the M/V Lordship, a 178,838 dwt scrubber-fitted Capesize vessel built in 2010, on a time charter with Costamare. The charter will commence after the vessel’s drydocking around late July, also for about 22 months. The hire rate will be based on the 5 T/C routes of the BCI, with an option to convert to a fixed rate for 2 to 12 months. Seanergy will benefit from a scrubber profit-sharing scheme based on the price difference between high-sulfur and low-sulfur fuel.

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Source: Seanergy