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SEANERGY MARITIM - SHIPW STOCK NEWS

Welcome to our dedicated page for SEANERGY MARITIM news (Ticker: SHIPW), a resource for investors and traders seeking the latest updates and insights on SEANERGY MARITIM stock.

SEANERGY MARITIM (SHIPW) is a leading maritime shipping company specializing in vessel chartering and fleet optimization. This page serves as the definitive source for all official news and press releases related to the company's operations, financial performance, and strategic developments.

Investors and industry professionals will find timely updates on earnings announcements, charter contract agreements, fleet expansion initiatives, and market positioning strategies. Our curated collection includes critical updates on TCE rate guidance, regulatory compliance measures, and operational efficiency milestones.

Key content categories include quarterly financial results, partnership announcements, vessel acquisition disclosures, and analyses of global shipping market trends. The resource enables stakeholders to track the company's adaptation to freight rate fluctuations and environmental regulations within the maritime sector.

Bookmark this page for streamlined access to SEANERGY MARITIM's evolving business narrative. Check regularly for verified updates that provide insights into the company's operational resilience and market leadership in maritime logistics.

Rhea-AI Summary

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.

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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.

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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.

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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.

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Seanergy Maritime Holdings Corp. filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC. Investors can access the report on the company's website.
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Seanergy Maritime Holdings Corp. reported strong financial results for Q4 2023, with net revenues of $39.4 million, net income of $10.8 million, and adjusted EBITDA of $23.9 million. The company declared a quarterly cash dividend of $0.025 per share and a special cash dividend of $0.075 per share. Seanergy acquired two vessels and completed refinancings generating additional liquidity. They also participated in an EU-funded project for Sustainable Alternative Fuels.
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Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its financial results for the fourth quarter and year ended December 31, 2023, on Friday, March 15, 2024, before the market opens in New York. A conference call and webcast to review the results will be held at 10:00 a.m. Eastern Time on the same day.
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Seanergy Maritime Holdings Corp. announces a strategic partnership with the European Union Funded SAFeCRAFT Project Consortium to demonstrate the safety and viability of Sustainable Alternative Fuels (SAFs) in seaborne transportation. The 48-month project aims to reduce CO2eq emissions by 26% in an existing vessel, aligning with the FuelEU Maritime 2040 targets. Seanergy will provide one of its Capesize vessels to be retrofitted to utilize hydrogen as the main energy source, in collaboration with key industry stakeholders and the European Union. The project will be co-funded by the consortium partners and the Horizon Europe program.
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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 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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