United Maritime To Acquire Capesize Bulker Duo From Seanergy

Credit: William William/Unsplash

Seanergy Maritime has reached definitive deals to sell two Capesize bulk carriers to its United Maritime spinoff for a total of $36.25m.

Delivery Of Vessels

The first vessel, called M/V Tradership, has a cargo capacity of 176,925 deadweight tonnes (dwt). The 2006-built vessel was manufactured by Namura Shipbuilding in Japan.  An unnamed European entity has chartered the carrier until at least June and up to a maximum term of October at an index-linked rate. The other vessel, M/V Goodship, is designed to carry 177,536dwt of cargo. Mitsui Engineering & Shipbuilding built the carrier in 2005 in Japan. M/V Goodship is currently running under a charter by an unnamed global charterer at an index-linked rate until at least June and reaching its maximum period in December. Delivery of both vessels is anticipated to take place in the first quarter of the year, following the fulfillment of customary closing conditions.

Attractive Purchase

Acquisition of the vessels is carried out in line with a right of first offer exercised by United Maritime. The offer for selling the Capesize vessels was given to the firm by Seanergy as part of a deal reached between the firms last July. United Maritime has also concluded the delivery of an LR2 product tanker to its new owners. United Maritime chairman and CEO Stamatis Tsantanis said: “We are pleased to announce the acquisition of the two Capesize bulkers by United Maritime. The attractive purchase price places United in a position to generate high returns on investment without diluting our shareholders or increasing our corporate leverage.”  The company entered a contract with the current lender of M/T Minoansea, under which United Maritime will have access to the $15.2m loan received by the carrier to finance portions of the acquisition of M/V Tradership and M/V Goodship.

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Source: Shiptechnology