This Shipping Company Announces Immediate Employment

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Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today the delivery of M/V Dukeship (the “Vessel”), a previously announced Capesize vessel acquisition, and the start of its time charter (“T/C”) employment. In addition, the previously announced sustainability-linked lending facility with Piraeus Bank (the “Facility”) was successfully concluded as reported by GlobeNewswire.

Delivery of the M/V Dukeship

The M/V Dukeship, a 181,500-dwt Capesize bulk carrier built by Sasebo Heavy Industries in Japan in 2010, was delivered to Seanergy on November 26, 2021, and has already begun the T/C with its charterers, NYK, for a period of around 13 to 18 months. The gross daily rate is calculated at a higher rate than the Baltic Capesize Index.

Seanergy’s fleet has grown to 17 Capesize boats with an aggregate cargo-carrying capacity of more than 3 million dwt following this delivery, the seventh in 2021 to date.

Sustainability-linked loan

On November 15, 2021, the previously announced sustainability-linked loan was drawn. The $16.85 million principal will be amortised over five years, with a $6.1 million final balloon payment at maturity and an annual interest rate of 3.05% + LIBOR. Pricing can be improved further if certain emission reduction thresholds are met.

“I am very pleased with the final delivery of our 17th Capesize vessel in excellent market timing,” said Stamatis Tsantanis, the Company’s Chairman and Chief Executive Officer. The Dukeship has already begun a time-charter with a reputable charterer.

“Our fleet is now 100% under period employment, with the vast majority on index-linked T/Cs.The current Baltic Capesize Index is $37,600 per day.”

“Finally, the recent closing of the sustainability-linked loan facility reiterates our solid commitment to our ESG objectives.”

Company fleet:

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Source: GlobeNewswire

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