SOURCE: Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp.

September 16, 2015 09:15 ET

Seanergy Maritime Holdings Corp. Announces Delivery of a Capesize Vessel

ATHENS, GREECE--(Marketwired - Sep 16, 2015) - Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP), a shipping company specializing in the ownership and operation of dry bulk vessels, announced today the delivery of a 170,024 dwt Capesize dry bulk vessel, which has been renamed to M/V Premiership. The vessel was built in 2010 by Sungdong SB in the Republic of Korea and has been employed in the spot market. The acquisition cost of the M/V Premiership has been funded by a senior secured loan agreement with a reputable financial institution and by a funding arrangement with the Company's sponsor.

As previously announced, the M/V Premiership is the first of seven modern secondhand dry bulk vessels that the Company will acquire for a gross purchase price of approximately $183 million. The acquisition of the remaining vessels is expected to be completed by November 30, 2015.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is an international provider of marine dry bulk shipping services through the ownership and operation of dry bulk vessels. The Company is registered in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong.

The Company currently owns two Capesize vessels built in 2001 and 2010 and following the anticipated completion of the acquisition of the vessels announced, the Company will have a modern fleet of a total of eight dry bulk carriers, six Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,145,553 DWT and an average fleet age of about 7.1 years.

The Company's common stock trades on the Nasdaq Capital Market under the symbol "SHIP."

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that such expectations will prove to have been correct, these statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the scope and timing of Securities and Exchange Commission ("SEC") and other regulatory agency review, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the SEC. The Company's filings can be obtained free of charge on the SEC's website at www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact Information

  • For further information please contact:

    Investor Relations / Media
    Capital Link, Inc.
    Paul Lampoutis
    230 Park Avenue Suite 1536
    New York, NY 10169
    Tel: (212) 661-7566
    E-mail: seanergy@capitallink.com