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Seanergy Maritime Holdings Corp. - SHIP STOCK NEWS

Welcome to our dedicated page for Seanergy Maritime Holdings news (Ticker: SHIP), a resource for investors and traders seeking the latest updates and insights on Seanergy Maritime Holdings stock.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a Marshall Islands corporation with its executive offices based in Athens, Greece. The company specializes in the transportation of dry bulk cargoes through its fleet of dry bulk carriers. By owning and operating an extensive fleet of vessels including the Fellowship, Championship, Partnership, Knightship, Lordship, Gloriuship, Leadership, Geniuship, Premiership, and Squireship, Seanergy Maritime Holdings Corp. has established a significant presence in the global maritime shipping industry.

The company generates a majority of its revenue from the operation of these vessels. In recent developments, Seanergy reported a notable increase in its fourth-quarter net profit, reaching $10.8 million from just $0.5 million the previous year. Revenue for the same period grew to $39.4 million, up from $28.5 million. Despite a highly volatile Capesize market, Seanergy's daily time charter equivalent (TCE) rates surpassed the Baltic Capesize Index (BCI) by 7% in 2023.

For the first three months of 2024, Seanergy projects a TCE of $23,219 per day. Over the full year, the company achieved a net income of $2.3 million and an average daily rate of $17,501, exceeding the BCI average of $16,389. The company's consistent ability to generate higher revenues from its Capesize fleet compared to industry benchmarks differentiates it from other shipping companies.

In February 2024, Seanergy acquired a 2013 Japanese-built Capesize dry bulk vessel with a capacity of 181,392 deadweight tons (dwt), renamed M/V Iconship. The purchase price was $33.7 million, with the vessel's value increasing to $38 million. CEO Stamatis Tsantanis highlighted the company's strategy of fleet expansion, share buybacks, and dividend payments, aiming for balanced capital allocation and rewarding shareholders.

Seanergy's spin-off company, United Maritime Corporation (NASDAQ: USEA), also achieved significant milestones, including a sale-and-leaseback transaction to generate liquidity and potentially expand its fleet. United Maritime maintained a positive financial performance in 2023, with net revenues increasing by 58% compared to the previous year.

For more information and the latest updates, you can visit the company's website at www.seanergymaritime.com.

News

Seanergy Maritime Announces Share Capital Accretion Plan and Open Market Stock Purchases by the CEO

Rhea-AI Summary
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced a new $25 million buyback program, completing three previous buyback programs totaling $32 million. The CEO also intends to complete $1 million in open-market purchases. The company has filed a prospectus supplement with the SEC for an ATM program of up to $30 million to raise cash proceeds for general corporate purposes.
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Seanergy Maritime Releases its 2022 Environmental, Social and Governance Report

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Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) releases its Environmental, Social and Governance Report for the year ended December 31, 2022. The report outlines the company's ESG strategy, commitments, and performance using sustainability-related Key Performance Indicators.
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Seanergy Maritime Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023 and Declares Dividend of $0.025 Per Share

Rhea-AI Summary
Company XYZ (XYZ) Reports Strong Financial Performance and Fleet Expansion in Q3 2023 PR: Company XYZ discloses its Q3 2023 financial results, showcasing a significant increase in net revenues from $24.5 million to $34.0 million compared to Q3 2022. Additionally, the company experienced a notable rise in adjusted net income from $7.6 million to $22.4 million during the same period. The press release also highlights the overperformance of Fleet Time Charter Equivalent (TCE) by 14% in 3Q23 and 18% in 9M23, along with the delivery of M/V Titanship, a 2011-built Newcastlemax, through a 12-month bareboat charter with a purchase option. Company XYZ also maintained its consistent quarterly cash dividend of $0.025 per share for Q3 2023, totaling cash dividends of $1.35 per share, or $24.4 million declared since March 2022.
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Seanergy Maritime Announces the Date for the Third Quarter and Nine Months Ended September 30, 2023, Financial Results, Conference Call and Webcast

Rhea-AI Summary
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its financial results for the third quarter and nine months ended September 30, 2023, on Tuesday, November 14, 2023, before the market opens in New York. The company's senior management will conduct a conference call and webcast at 9:30 a.m. Eastern Time on the same day to review these results. The live and archived webcast will be available through the company's website, and participants can register for the conference call using the provided links.
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Profit Waves On The Horizon: Seanergy Maritime (NASDAQ:SHIP) And United Maritime Report H1 2023 Financial Results, Continue Rewarding Shareholders

Rhea-AI Summary
Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) announced the acquisition of a Newcastlemax dry bulk vessel, increasing its total cargo-carrying capacity to 3,054,820 dwt. The company has reported healthy financial results, surpassing the Baltic Capesize Index (BCI) by 20% in Q2 and H1 2023. Seanergy declared a quarterly cash dividend of $0.025 per share and has undertaken stock buybacks of $1.6 million. The Newcastlemax acquisition is made through a 12-month bareboat charter with a purchase option. United Maritime, the spinoff company, has seen growth and success, generating substantial returns and narrowing its loss. United Maritime is focused on acquiring larger size dry bulk vessels and has declared a quarterly cash dividend of $0.075 per share. Stamatis Tsantanis, the CEO and Chairman, believes the company is in a favorable position to perform well in the Capesize market.
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Seanergy Maritime Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2023 and Declares Dividend of $0.025 Per Share

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Seanergy Maritime Holdings Corp. announced its financial results for Q2 2023, reporting net revenues of $28.3 million and adjusted EBITDA of $15.7 million. The company also declared a quarterly dividend of $0.025 per common share. They completed a stock buyback of $1.6 million and agreed to acquire a 2011-built Newcastlemax dry bulk vessel. They also refinanced $53.8 million in debt, adding $15.0 million of extra liquidity.
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Seanergy Maritime Announces the Date for the Second Quarter Ended June 30, 2023 Financial Results, Conference Call and Webcast

Rhea-AI Summary
Seanergy Maritime Holdings Corp. will release its financial results for Q2 2023 on August 2, 2023, before the market opens in New York. A conference call and webcast will be held at 10:00 a.m. Eastern Time on the same day.
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Seanergy Maritime Announces Repurchases of $1.6 Million of Common Shares and Agreement to Acquire a Newcastlemax Vessel through a Bareboat-in Charter

Rhea-AI Summary
Seanergy Maritime Holdings Corp. has repurchased 2% of its shares at a discount, entered into a bareboat charter agreement for a dry bulk vessel, and provided market commentary. The CEO expresses confidence in the company's prospects and highlights robust demand for seaborne transportation. He also discusses factors contributing to current freight-rate weakness and reaffirms the company's commitment to the Capesize sector.
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Seanergy Maritime (NASDAQ:SHIP) & Spinoff United Maritime Q1 Financial Results: Both Companies Announce Dividends And Expect Improved Profitability Based On Positive Sector Outlook

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Seanergy Maritime Reports Financial Results for the First Quarter Ended March 31, 2023 and Declares Quarterly Dividend of $0.025 Per Share

Rhea-AI Summary
Seanergy Maritime Holdings Corp. announced its financial results for Q1 2023, reporting a decrease in net revenues and net income compared to the same period in 2022. The company declared a quarterly dividend of $0.025 per share. The Capesize market experienced seasonal weakness in Q1 but has since recovered to profitable levels. Seanergy expects improved market conditions to lead to higher profitability for the rest of the year. The company's balance sheet remains strong, and it plans to modernize its fleet and improve its carbon footprint.
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FAQ

What is the current stock price of Seanergy Maritime Holdings (SHIP)?

The current stock price of Seanergy Maritime Holdings (SHIP) is $8.34 as of November 22, 2024.

What is the market cap of Seanergy Maritime Holdings (SHIP)?

The market cap of Seanergy Maritime Holdings (SHIP) is approximately 174.8M.

What is Seanergy Maritime Holdings Corp.?

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a Marshall Islands corporation engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.

Where are Seanergy Maritime Holdings Corp.'s executive offices located?

The executive offices of Seanergy Maritime Holdings Corp. are located in Athens, Greece.

On which stock exchange does Seanergy Maritime Holdings Corp. trade?

Seanergy Maritime Holdings Corp.'s common stock trades on the NASDAQ Capital Market under the symbol 'SHIP'.

What are the names of some vessels in Seanergy Maritime's fleet?

The company's fleet includes vessels such as Fellowship, Championship, Partnership, Knightship, Lordship, Gloriuship, Leadership, Geniuship, Premiership, and Squireship.

How did Seanergy Maritime perform financially in the fourth quarter of the recent year?

Seanergy Maritime reported a fourth-quarter net profit of $10.8 million, up from $0.5 million the previous year, with revenue increasing to $39.4 million from $28.5 million.

What is the projected Time Charter Equivalent (TCE) rate for Seanergy in the first quarter of 2024?

Seanergy projects a TCE rate of $23,219 per day for the first three months of 2024.

Has Seanergy acquired any new vessels recently?

Yes, in February 2024, Seanergy acquired a 2013 Japanese-built Capesize dry bulk vessel with a capacity of 181,392 deadweight tons (dwt), renamed M/V Iconship.

What is United Maritime Corporation?

United Maritime Corporation (NASDAQ: USEA) is a spin-off company of Seanergy Maritime Holdings that specializes in similar maritime operations and recently completed a sale-and-leaseback transaction to generate liquidity.

How did United Maritime perform financially in 2023?

United Maritime achieved net revenues of $36.1 million in 2023, a 58% increase from the previous year, despite increasing voyage expenses and finance costs.

Where can I find more information about Seanergy Maritime Holdings Corp.?

For more information, you can visit the company's website at www.seanergymaritime.com.

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Seanergy Maritime Holdings Corp.

Nasdaq:SHIP

SHIP Rankings

#3970 Ranked by Market Cap
#90 Ranked by Dividends

SHIP Stock Data

174.77M
14.84M
27.59%
19.39%
1.48%
Marine Shipping
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