Seanergy takes delivery of its 17th Capesize, M / V Worldship, with immediate start of vintage charter

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Seanergy TakDelivery of its 17e Capesize, M / V Worldboat,
with the immediate start of Period charter

September 8, 2021Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it has taken delivery of the previously announced acquisition of the Capesize vessel, on M / V Worldboat (the ship “). The ship is a Capesize 181,415 dwt bulk carrier, built in 2012 by Imabari of Japan. M / V Worldboat is the sixth Capesize delivery that Seanergy has successfully completed in 2021 to date.

M / V Worldship has already entered into a time charter (“T / C”) with an existing charterer of the Company, at a fixed gross rate of $ 31,750 per day for a period of approximately 12 to approximately 16 months from delivery.

The purchase price was funded with cash, while Seanergy is in advanced talks with a leading bank to finance a portion of the acquisition cost on competitive terms.

Stamatis Tsantanis, the company Chairman and CEO, said:

“I am pleased to announce the addition of the seventeenth vessel Capesize to our fleet and the simultaneous start of her employment period. Including this delivery and the sale of M / V Leadership, 94% of our fleet is employed on time charter, 87% of which are indexed T / Cs. This allows us to make full use of our fleet in order to capitalize on robust market rates.

We are delighted to see the strongest Capesize market in the past 11 years, with daily rates exceeding $ 45,000, confirming our business strategy.

Based on the current fundamentals of Capesize’s supply and demand, we remain confident about the outlook for our market for years to come. “

Society Fleet, following the delivery of M / V Leadership to the new owners:

Name of vessel

Class of ship

Capacity (DWT)

Year of construction

court

Use

Patriotism

Capesize

181,709

2010

Imabari

T / C – fixed rate

World ship

Capesize

181,415

2012

Koyo – Imabari

T / C – fixed rate

Hellasship

Capesize

181,325

2012

Imabari

Linked T / C index

Camaraderie

Capesize

179,701

2010

Daewoo

T / C index linked

Championship

Capesize

179,238

2011

Sungdong SB

T / C index linked

Partnership

Capesize

179,213

2012

Hyundai

T / C index linked

Chivalry

Capesize

178,978

2010

Hyundai

T / C index linked

Lordship

Capesize

178,838

2010

Hyundai

T / C index linked

Happiness

Capesize

177,536

2005

Mitsui

Travel / Spot

Friendship

Capesize

176,952

2009

Namura

T / C index linked

Trade

Capesize

176,925

2006

Namura

T / C index linked

Flagship

Capesize

176,387

2013

Mitsui

T / C index linked

Glory

Capesize

171,314

2004

Hyundai

T / C index linked

Genie

Capesize

170,057

2010

Sungdong SB

T / C index linked

Prime Minister

Capesize

170,024

2010

Sungdong SB

T / C index linked

Squireship

Capesize

170,018

2010

Sungdong SB

T / C index linked

Total / Average age

2 829 630

11.5

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only fully listed Capesize vessel owner in the United States. Seanergy provides dry bulk shipping services through a modern fleet of Capesize vessels. Following delivery of the M / V Leadership to the new owners, the Company’s operating fleet will consist of 16 Capesize vessels with an average age of 11.5 years and a total carrying capacity of approximately 2,829,630 tpl.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

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) regarding future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “plans”, “hopes”, “estimates” and variations of these Similar words and phrases are intended to identify forward-looking statements. These statements involve known and unknown risks and are based on 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 these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the liquidity of the Company, including its ability to service its debt; competitive factors in the market in which the Company operates; trends in the shipping industry, including charter rates, vessel values ​​and factors affecting supply and demand for vessels; future, pending or recent acquisitions and divestitures, business strategy, areas of possible expansion or contraction, and anticipated capital or operating expenses; risks associated with operations outside the United States; risks associated with the duration and severity of the current novel coronavirus (COVID-19) outbreak, including its effects on the demand for dry bulk products and their transportation; and other factors listed from time to time in documents filed by the Company with the SEC, including its most recent annual report on Form 20-F. Documents filed by the Company may be obtained free of charge from the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligation or commitment to publicly release any update or revision to any forward-looking statement contained herein to reflect any change in the Company’s expectations in this regard or any change in the events, conditions or circumstances on which any statement is based.

For more information, please contact:

Seanergy Investor Relations
Phone. : +30 213 0181 522
Email: [email protected]

Capital Link, Inc.
Daniela Guerrero
230, avenue du Parc, office 1536
Phone. : (212) 661-7566
Email: [email protected]

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