Welcome to our dedicated page for Seanergy Maritime Hldgs news (Ticker: SHIP), a resource for investors and traders seeking the latest updates and insights on Seanergy Maritime Hldgs stock.
Seanergy Maritime Holdings Corp (NASDAQ: SHIP) provides dry bulk shipping services through its specialized fleet, serving global trade routes. This page aggregates official company announcements and third-party analyses, offering stakeholders a centralized resource for tracking maritime industry developments.
Investors and industry observers will find timely updates on earnings reports, fleet expansions, and strategic partnerships. The curated selection includes press releases covering charter agreements, operational milestones, and market positioning insights relevant to dry bulk transportation.
Content spans financial disclosures, vessel acquisition announcements, and industry benchmark analyses, providing context for SHIP's performance within the Capesize and Panamax shipping segments. Regular updates reflect the company's navigation of freight rate fluctuations and compliance with maritime regulations.
Bookmark this page for streamlined access to Seanergy's latest developments. Combine these updates with Baltic Exchange indices and sector reports for comprehensive market analysis.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has released an investor presentation ahead of its 2024 Annual Meeting of Shareholders on November 4, 2024. The presentation, available at www.VoteSeanergy.com and on the company's website, highlights Seanergy's value creation strategy. The Board of Directors unanimously recommends shareholders vote on the WHITE proxy card "FOR" Seanergy's nominees and "AGAINST" proposals made by Economou.
The company encourages shareholders to disregard any proxy materials received from Economou. For assistance with voting, shareholders can contact MacKenzie Partners, Seanergy's proxy solicitor, via phone or email. The Board emphasizes its commitment to overseeing a strategy that delivers value for all shareholders.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has mailed a letter to shareholders from CEO Stamatis Tsantanis ahead of the 2024 Annual Meeting. The letter highlights Seanergy's transformation into a pure-play Capesize shipping company with improved positioning and balance sheet. Key points include:
1. Fleet expansion to 19 Capesize vessels (3.4 million DWT)
2. Record profitability: $81.4 million net revenue and $24.3 million net income in H1 2024
3. Debt reduction and streamlined capital structure
4. Increased shareholder returns: $42.9 million in securities repurchases and $34.7 million in dividends since 2021
5. Updated dividend policy to return ~50% of net operating cash flow
The Board recommends voting 'FOR' Seanergy's nominees and 'AGAINST' Economou's proposals on the WHITE proxy card by November 3, 2024.
Seanergy Maritime Holdings (NASDAQ: SHIP) reported record financial results for Q2 and H1 2024, ending June 30. Key highlights include:
- Q2 2024 net revenues of $43.1 million, a 52% increase from Q2 2023's $28.3 million.
- Q2 2024 net income of $14.1 million. Adjusted net income for Q2 2024 was $16.0 million.
- Adjusted EBITDA for the quarter was $28.0 million, up 78% from Q2 2023.
- EPS for Q2 2024 was $0.68, with adjusted EPS at $0.78 (basic).
- H1 2024 net revenues reached $81.4 million, marking a 75% increase from H1 2023.
The company declared a quarterly dividend of $0.25 per share and updated its dividend policy to distribute around 50% of operating cash flow available for distributions. Additionally, Seanergy resumed its stock buyback program and reported a $58.3 million financing and refinancing transaction completed in Q2 2024.
Fleet updates include the delivery of M/V Iconship and an ongoing charter agreement with Costamare. Seanergy also expects to take delivery of another Capesize vessel in Q3 2024.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has announced the release date for its Q2 and H1 2024 financial results. The earnings release is scheduled for Tuesday, August 6, 2024, before the New York market opens. Following the release, the company will host a conference call and webcast at 11:00 a.m. Eastern Time on the same day.
Investors and interested parties can access the live webcast and accompanying presentation through Seanergy's website. The webcast will be archived for future reference. Participants are advised to register approximately 10 minutes before the start of the webcast. For those preferring a traditional conference call, registration options are available, including a system that can call participants directly.
Seanergy Maritime Holdings has announced the successful delivery of the M/V Iconship, a 181,392 dwt Capesize bulk carrier built in 2013. The vessel is now on a 22-month time charter (T/C) with Costamare Bulkers Inc. The daily hire is based on the Baltic Capesize Index (BCI), with an option to convert to a fixed rate. The acquisition was funded with cash and a sale and leaseback agreement.
Additionally, the M/V Lordship, a 178,838 dwt Capesize vessel, will begin a 22-month T/C with Costamare in July, following drydocking. This T/C also offers an index-linked daily hire based on the BCI, with options for fixed rates.
Seanergy's fleet is now fully employed on period charters, reinforcing their strategy to capitalize on favorable market conditions and maintain a strong focus on Capesize vessels for sustained returns.
Sphinx Investment Corp. issued a critical statement regarding Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), accusing its CEO Stamatis Tsantanis and the Board of Directors of undermining shareholder governance rights. Sphinx highlights a deal where Tsantanis acquired 49.99% of voting power for $250,000 despite the company holding assets over $400 million. The board, allegedly handpicked by Tsantanis, approved this transaction, leading to concerns of self-dealing and poor governance. Sphinx claims that attempts by shareholder Mr. Economou to engage with Tsantanis to address governance issues have been ignored, leading to ongoing litigation and proxy fights.
On May 31, 2024, Seanergy Maritime Holdings (NASDAQ: SHIP) announced an interview of its Chairman & CEO, Stamatis Tsantanis, conducted by Oliver Renick on Schwab Network's Morning Trade Live program. Tsantanis discussed Seanergy's strong 1Q24 earnings and positive outlook following a profitable 2023. He also elaborated on recent strategic developments, and provided insights into the shipping sector, detailing key geopolitical factors and emerging trends.
Seanergy Maritime (NASDAQ: SHIP) reported record financial results for Q1 2024, with net revenues of $38.3 million, up from $18.0 million in Q1 2023. Net income reached $10.2 million, a significant turnaround from a $4.2 million loss in the prior year. Adjusted net income was $11.6 million, compared to an adjusted net loss of $0.4 million in Q1 2023. EBITDA was $21.6 million, and adjusted EBITDA was $23.2 million. Earnings per share were $0.50, with adjusted earnings per share at $0.58. The company declared a quarterly cash dividend of $0.025 and a special dividend of $0.125 per share, totaling $0.15 per share for Q1 2024.
Significant developments include acquiring two Japanese Capesize vessels and securing $58.3 million in new financing. Cash and cash equivalents totaled $24.2 million. Stockholders' equity stood at $240.6 million, with long-term debt at $223.2 million. The company projects a strong outlook with an expected daily time charter equivalent (TCE) rate of $26,400 for Q2 2024, indicating continued robust performance.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its financial results for the first quarter ended March 31, 2024, on Wednesday, May 15, 2024, before the market opens in New York. The company's senior management will host a conference call and webcast on the same day at 10:00 a.m. Eastern Time to discuss these results.
