Seanergy Maritime Holdings Corp. - SHIPW STOCK NEWS

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. Securities and Exchange Commission. The report details the Company's operations as a pure-play Capesize ship-owner, highlighting a fleet of 17 vessels with a total capacity of approximately 3,011,083 deadweight tons. The report can be accessed on the Company’s website under the Investor Relations section. Forward-looking statements in the press release caution investors about potential risks and uncertainties impacting future results.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has successfully conducted marine biofuel trials on its Capesize vessels in collaboration with NYK Line. The trials utilized a 0.50% VLSFO blended with a waste-based FAME component, achieving a 10% reduction in CO2 emissions compared to traditional marine fuels. The tests were performed during a voyage from Singapore to South Africa. Seanergy emphasizes its commitment to sustainability and reducing GHG emissions, aligning with its strategic goals for a greener future.

Seanergy Maritime Holdings Corp (NASDAQ: SHIP) announced significant financial results for Q4 and FY 2021, reflecting exceptional growth. Q4 2021 earnings per share (EPS) were $0.12 (basic) and $0.11 (diluted), with net revenues reaching $56.7 million, a 166% increase year-over-year. Full-year 2021 net revenues rose to $153.1 million, up 142%, with an adjusted net income of $53.3 million. The company declared regular and special dividends of $0.025 per share each, totaling $35.6 million in shareholder returns. A buyback of $10 million in convertible notes further demonstrates commitment to shareholder value.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its financial results for Q4 and the full year ended December 31, 2021, on March 10, 2022, before the market opens. A conference call is scheduled for the same day at 11:30 a.m. Eastern Time to discuss the results. Seanergy, based in Greece, operates a fleet of 17 Capesize vessels with a total cargo capacity of approximately 3,011,083 dwt. The company stands as a pure-play Capesize ship owner publicly listed in the U.S.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced a refinancing agreement with a Japanese lender for its Capesize vessel, M/V Partnership. The $21.3 million transaction will secure a bareboat charter for eight years, significantly reducing the interest rate by approximately 210 bps. The refinancing will also free up $4.3 million in additional liquidity. The company expects to exercise its option to repurchase the vessel after the charter period for $2.39 million. Following this deal, Seanergy will eliminate all junior debt, strengthening its financial position.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) reported Q1 2021 net revenues of $20.4 million, a 53% increase from Q1 2020. Adjusted EBITDA soared to $7.9 million, reflecting a 483% rise. Despite a net loss of $1.3 million, a significant improvement from $8.3 million loss in the prior year, the company strengthened its cash position to $58.1 million. Debt reduction efforts were notable, decreasing 22.5% from prior quarter. Recent fleet growth includes acquisition of five Capesize vessels for $134.3 million.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced an agreement to purchase the M/V Worldship, a 2012-built Capesize vessel, for $33.7 million. This acquisition will expand its fleet to 16 Capesize vessels with a total capacity of approximately 2,800,000 deadweight tons. The vessel's delivery is expected in Q3 2021, with no anticipated capital expenditures for two years. The company has also secured a charter for the M/V Patriotship at $31,000 per day. The incremental gross revenue from this acquisition may exceed $4 million for 2021, leveraging strong freight market conditions.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its Q1 2021 financial results on May 25, 2021, before market opening. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. Seanergy is the only pure-play Capesize ship-owner publicly listed in the U.S., with a modern fleet projected to expand to 15 vessels with a total carrying capacity of approximately 2.64 million dwt. The company emphasizes its commitment to providing marine dry bulk transportation services.

Seanergy Maritime Holdings Corp. announced the delivery of the M/V Flagship, a Capesize bulk carrier, financed through a $20.5 million bareboat leasing agreement with Cargill. This agreement includes a five-year time charter based on the Baltic Capesize Index, ensuring stable revenue linked to market conditions. Furthermore, Cargill will invest in energy-saving devices for the vessel, enhancing environmental efficiency. The deal marks a significant expansion of Seanergy's fleet and partnership with Cargill, positioning the company favorably in the current strong Capesize market.