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MAKES NO SENSE. Fantastic operations report..
compared to last year. The world is opening up.
And stock gets worse than a ho hum.
Go figure...
Seanergy Advances Capesize Fleet to 16
Seanergy Maritime Holdings Corp. Announces Agreement to Acquire its 16th Capesize Vessel and New Time Charter
May 24, 2021 09:00 ET| Source: Seanergy Maritime Holdings Corp.
GLYFADA, Greece, May 24, 2021 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into a definitive agreement with an unaffiliated third party to purchase a Capesize vessel (the “Vessel”).
The Vessel was built in 2012 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 181,000 deadweight tons (“dwt”) and will be renamed M/V Worldship.
The Worldship is expected to be delivered within the third quarter of 2021, subject to the satisfaction of certain customary closing conditions. Following her delivery, Seanergy’s fleet will increase to 16 Capesize vessels with an aggregate cargo capacity of approximately 2,800,000 dwt.
The Vessel is fitted with a scrubber and a ballast water treatment system, while the special survey will be completed by the current owner prior to the delivery and, therefore, the Company does not anticipate incurring any off-hire or capital expenditure for this Vessel at least for the next two years.
The purchase price of $33.7 million is expected to be funded with cash on hand and debt financing.
In addition, taking advantage of the current strong market conditions, Seanergy has fixed one of its Capesize vessels, the M/V Patriotship, at $31,000 per day for a period employment of 12-18 months with a major European cargo operator. The contract is expected to commence upon the Patriotship’s upcoming delivery to the Company, which is anticipated in the beginning of June 2021.
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“I am very pleased to announce another timely acquisition of a high-quality Capesize vessel built by a renowned shipyard in Japan. The addition of the M/V Worldship to our fleet will further enhance our operating leverage as a leading pure-play Capesize company.
This should be a highly accretive transaction for our shareholders as it will be funded by Seanergy’s strong liquidity, consisting of cash on hand and loan facilities at competitive terms.
Our fleet is currently operating in a decade-high freight environment, where the Capesize forward freight contracts (“FFA”) for the second half of 2021 exceed $30,000 per day. Based on the anticipated delivery of the Vessel in the mid of the third quarter of 2021, the incremental gross revenue from this acquisition may exceed $4 million for the remainder of the year.”
For further information please contact:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr
Capital Link, Inc.
Daniela Guerrero
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com
https://www.globenewswire.com/news-release/2021/05/24/2234753/0/en/Seanergy-Maritime-Holdings-Corp-Announces-Agreement-to-Acquire-its-16th-Capesize-Vessel-and-New-Time-Charter.html
Joakim Hannisdahl recommends $SHIP !!!
That is the key question...
— Joakim Hannisdahl (@JHannisdahl) May 20, 2021
I currently recommend the following capital allocation within #DryBulk #shipping to clients$DSX $GNK $GOGL $SBLK $SHIP pic.twitter.com/sNPQIIMk2i
Onboard M/V Flagship - our 13th Cape vessel so far.
— Seanergy (@Seanergy_SHIP) May 18, 2021
View from her bridge. #shipping #capesize $SHIP pic.twitter.com/LyolRDREbn
Seanergy has Flagship.
Seanergy Announces Delivery of Capesize M/V Flagship Vessel to enter Financing and Period Charter Agreement with Cargill
May 11, 2021 09:15 ET| Source: Seanergy Maritime Holdings Corp.
GLYFADA, Greece, May 11, 2021 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it has taken delivery of the 176,387 dwt Capesize bulk carrier, built in 2013 by Mitsui Engineering & Shipbuilding Co., Ltd. in Japan, which was renamed M/V Flagship (the “Vessel”). The Vessel was subsequently financed through a leasing agreement with Cargill International SA (“Cargill” or the “Charterer”). Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered into a five-year time charter (“T/C”) with Cargill at a rate which is linked to the Baltic Capesize Index (BCI).
Financing Agreement
The bareboat financing amount of the Vessel is $20.5 million at an implied interest rate of approximately 2% all-in, fixed for five years. The Company has the option to buy back the Vessel at any time during the whole five-year leasing period, at the end of which it has a purchase obligation of $10 million subject to certain adjustments based on the market price of the Vessel.
Time Charter Agreement
Under the terms of the T/C, the Vessel will earn an index-linked rate based on BCI, while the Company has the option to convert the daily hire from index-linked to fixed for a minimum period of three months to a maximum of 12 months based on the prevailing Capesize Freight Futures Agreements (“FFA”) curve. The index-linked rate will be 102% of the BCI minus $1,325 per day. The term of the T/C matches the term of the leasing transaction and has a duration of 60 months from the delivery of the Vessel to Cargill on May 10, 2021.
Energy Saving Devices
In addition, Cargill will fund the equipment and the installation of certain energy saving devices (“ESDs”) onboard the M/V Flagship, aimed to increase the Vessel’s energy efficiency by reducing fuel consumption and subsequently the Vessel’s carbon footprint. The Company and the Charterer have successfully implemented a similar project for the M/V Championship in 2019 in a cooperative scheme pioneered by Seanergy and Cargill.
For further information please contact:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr
Capital Link, Inc.
Daniela Guerrero
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com
https://www.globenewswire.com/news-release/2021/05/11/2227346/0/en/Seanergy-Announces-Delivery-of-Capesize-M-V-Flagship.html
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“We are pleased to announce the delivery of the thirteenth Capesize vessel and its immediate commencement of period employment, during the strongest Capesize market of the last decade. Including this delivery, 84% percent of our fleet is employed under index-linked time charters.
We are also excited to further expand our strategic partnership with Cargill with another transaction, which is very beneficial commercially and environmentally. Cargill is one of the most prominent charterers with a clearly defined and actionable environmental and sustainability agenda.
The debt financings we have secured so far for our recent vessel acquisitions are priced competitively and this will further reduce the Company’s average cash interest expense. Moreover, upon the conclusion of this transaction our strong liquidity position will be further enhanced.
The implementation of our strategic decisions of the last 6 months has a clear positive impact on Seanergy so far, and we continuously explore opportunities to further increase value for our shareholders.”
https://www.globenewswire.com/news-release/2021/05/11/2227346/0/en/Seanergy-Announces-Delivery-of-Capesize-M-V-Flagship.html
SHIP shares are being given away below value IMO by MM'S. Maritime Stocks should have their own exchange. Tradebots don't read the Baltic Capesize Index apparently... or if they do, can't compute. We've been trading alongside TOPS for a long while. I believe there is a program tying the two together. I've seen SHIP go "parabolic" on TOPS news/volume in the past even during after hours. Someone has to cut the cord between the two companies. They have completely different businesses and prospects. TOPS also trading below value IMO.
added more,,bdi thru the roof,$$$$ MHOP
Delivery of Capesize M/V Hellasship and Time Charter Agreement with NYK Line
Onboard M/V Hellasship.
— Seanergy (@Seanergy_SHIP) May 6, 2021
During today’s delivery to @seanergy_SHIP.
Our first addition out of the 4 newly acquired Cape vessels. $SHIP pic.twitter.com/swsnU3PKYp
Stock going up nicely. warrants going DOWN.???? EOM
$5++++ stock,,MHOP $$$$
* * $SHIP Video Chart 05-03-2021 * *
Link to Video - click here to watch the technical chart video
Just when least expect. Bam! Good! For a start. eom
First Quarter 2021 TCE Guidance:
As of the date hereof, approximately 98% of our fleet operating days in the first quarter of 2021 have been fixed at a TCE of approximately $16,000, or 89% higher compared to the $8,481 TCE recorded in the first quarter of 2020.
____________________
1 Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") and Time Charter Equivalent rate (“TCE”) are non-GAAP measures. Please see the reconciliation below of EBITDA to Net Income/ (Loss) and TCE to Net revenues from vessels, in each case the most directly comparable U.S. GAAP measure.
2 For vessels on index-linked T/Cs, the TCE assumed for the remaining operating days is equal to the FFA rate for the respective period. Spot estimates are provided using the load-to-discharge method of accounting. Load-to-discharge accounting recognizes revenues over fewer days as opposed to the discharge-to-discharge method of accounting used prior to 2018, resulting in higher rates for these days and only voyage expenses being recorded in the ballast days. Over the duration of the voyage (discharge-to-discharge) there is no difference in the total revenues and costs to be recognized. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE will be reduced accordingly.
https://www.globenewswire.com/en/news-release/2021/03/24/2198546/0/en/Seanergy-Maritime-Holdings-Corp-Reports-Financial-Results-for-the-Fourth-Quarter-and-Twelve-Months-Ended-December-31-2020.html
Baltic Capesize Index (BCI)
The Baltic Exchange Capesize Index (BCI) is a daily average calculated from the reports of an independent international board of panellists. These panellists are required to make a daily assessment on a basket of timecharter and voyage routes in the dry bulk shipping market representative of Capesize vessels.
Applicable weightings for the calculation of the Time Charter Average value are the following routes: C8_14 (25%), C9_14 (12.5%), C10_14 (25%), C14 (25%) and C16 (12.5%).
Currently the Baltic Capesize vessel for Time Charter Routes is a non-scrubber fitted vessel based on the following description:
– 180,000mt dwt on 18.2m ssw draft
– Max. age 10 yrs
– LOA 290m, beam 45m, TPC 121
– 198,000cbm grain
– 14 knots laden/15 knots ballast on 62mt fuel oil (380cst), no diesel at sea
– 12 knots laden/13 knots ballast on 43mt fuel oil (380cst), no diesel at sea
Route definitions:
Route C8_14:
Delivery Gibraltar-Hamburg range, laydays/cancelling 3/10 days from index date, transatlantic round voyage, redelivery Gibraltar-Hamburg range, 180,000mt, duration 30-45 days. 5% total commission.
Route C9_14:
Delivery Amsterdam-Rotterdam-Antwerp range or passing Passero, laydays/cancelling 3/10 days from index date, redelivery China-Japan range, 180,000mt, duration about 65 days. 5% total commission.
Route C10_14:
Delivery China-Japan range, laydays/cancelling 3/10 days from index date, redelivery China-Japan range, 180,000mt, duration 30-40 days. 5% total commission.
Route C14:
Delivery Qingdao spot or retroactive up to a maximum 15 days after sailing from Qingdao, round voyage via Brazil, redelivery China-Japan range, 180,000mt, duration 80-90 days. 5% total commission.
Route C16:
Delivery North China-South Japan range, 3-10 days from index date for a trip via Australia or Indonesia or US West Coast or South Africa or Brazil, redelivery UK-Cont-Med within Skaw-Passero range, 180,000mt, duration to be adjusted to 65 days. 5% total commission.
https://www.bmti-report.com/baltic-capesize-index-bci/
https://en.m.wikipedia.org/wiki/Baltic_Dry_Index
"Reading is the key to success."
(1) Chartered by a major European utility and energy company and delivered to the charterer on September 11, 2019 for a period of minimum 33 to maximum 37 months with an optional period of about 11 to maximum 13 months. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate for a period of between 3 and 12 months, based on the prevailing Capesize Forward Freight Agreement Rate (“FFA”) for the selected period.
(2) Chartered by Cargill. The vessel was delivered to the charterer on November 7, 2018 for a period of employment of 60 months, with an additional period of about 24 to about 27 months at the charterer’s option. The daily charter hire is based on the BCI plus a net daily scrubber premium of $1,740. In addition, the time charter provides the option to convert the index linked rate to a fixed rate for a period of between 3 and 12 months based on the Capesize FFA for the selected period.
(3) Chartered by a major European utility and energy company and delivered on August 4, 2019 for a period of minimum 33 to maximum 37 months with an optional period of 11-13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $3,735 until May 2021. In addition, the Company has the option to convert to a fixed rate for a period of between three and 12 months, based on the prevailing Capesize FFA for the selected period.
(4) Chartered by Glencore and was delivered to the charterer on November 29, 2019 for a period of minimum 36 to maximum 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $2,055.
(5) Chartered by Glencore and was delivered to the charterer on December 19, 2019 for a period of minimum 36 to maximum 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $2,055.
(6) Chartered by Glencore and delivered to the charterer on May 15, 2020 for a period of about 36 to about 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI.
(7) Chartered by Pacbulk Shipping and delivered to the charterer on April 23, 2020 initially for a period of about 10 to about 14 months. Upon expiration of the current T/C period, in June 2021, the vessel will commence the second extension period up to minimum January 1, 2022 to maximum April 30, 2022. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate, based on the prevailing Capesize FFA for the selected period.
(8) Chartered by Anglo American, a leading global mining company, and expected to be delivered to the charterer on towards the beginning of June 2021 for a period of minimum 12 to maximum 15 months from the delivery date. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate for a period of minimum three and maximum 12 months, based on the prevailing Capesize FFA for the selected period.
(9) Chartered by Pacbulk Shipping and expected to be delivered to the charterer towards the end of March 2021 for a period of about 10 to about 14 months from the delivery date. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate based on the prevailing Capesize FFA for the selected period.
(10) Expected delivery in June 2021.
(11) Expected delivery in April 2021.
(12) Expected delivery in May 2021.
Lets do this $$$5555++++++ MHOP
Today's rate is $34762 for Capesize, SHIP has 15.
Baltic Dry Index Rises 1.38% to 2,788
— Joakim Hannisdahl (@JHannisdahl) April 23, 2021
Capesize +2.82% to $34,762
Panamax -2.23% to $22,331
Supramax 58k tons +2.32% to $22,932
Handysize +2.15% to $17,688#DryBulk #Shipping $DSX $EGLE $GBLK $GNK $GOGL $SBLK pic.twitter.com/Ow5w3xJ9dD
Analyst Poe Fratt can be heard on SHIP's last Webcast CC beginning at 51:58 . I was mistaken on an earlier post, I thought the name of the person was Paul, now that I know for certain the person asking questions during the 4th quarter results is the person giving us a price target of 1.50, keep in mind that he based his PT when Capesize Daily Rates were near 20000 and he was skeptical of an upcoming Supercycle when speaking with the CEO.
SHIP PT upgraded to OutPerform
https://www.channelchek.com/news-channel/Seanergy_Maritime__SHIP____Another_Acquisition_Increases_Leverage___Upgrading_to_Outperform
https://www.tipranks.com/analysts/poe-fratt
https://noblecapitalmarkets.com/research
My Price Target is much higher than Poe's... but I'm not a professional analyst, I handwash my dishes, swiffer my floors and have to use coin laundry because my building doesn't permit W/D hookups in individual units. Trade Safe. GLTA
Shipowners have long bemoaned the lack of clarity on the direction of future environmental regulations, which have also put many off from ordering new tonnage. There have been concerns that vessels ordered today would become obsolete well before the end of their economic life. The new ambitious stance from the Biden administration may speed up the process of clarity, but it could also mean that the current breed of vessels will become non-compliant considerably faster. If the American move proves successful and the new, stricter, targets are phased in between 2023 and 2050, new vessel designs and propulsion technologies will have to be found in the next few years. Hence, the case for ordering new tonnage in the near term may weaken further for some shipowners, especially as current newbuilds may face extensive investments in propulsion conversions during their life span.
Assuming new stricter rules are announced, under American leadership, in 2023, there could potentially be a window of opportunity to invest in new tonnage before that. Vessels ordered/delivered before such an announcement could potentially have a longer grace period. Nevertheless, it is unlikely that there will be a stampede of dry bulk shipowners heading for the shipyards, as recent ordering sprees of container vessels and tankers have limited the availability of delivery slots ahead of 2023 and has also raised the newbuilding prices. Hence, the well-publicised story of a historically thin orderbook for dry bulk vessels could remain the narrative for some time. With only a limited number of vessels expected to join the global dry bulk fleet in the next few years, the supply side is likely to remain tight and provide continued support for freight rates.
By Ulf Bergman
April 23 2021
https://www.breakwaveadvisors.com/insights/2021/4/23/change-of-us-stance-on-shipping-emissions-likely-to-maintain-thin-dry-bulk-newbuild-order-books
Reported on @Seanergy_SHIP Twitter feed yesterday
Fearnleys: Cape vessels on fire! Freight rates gained 29% since April 14, sentiment very strong with all routes constantly improving. Iron ore and coal trades very active adding gasoline to the fire.@Seanergy_SHIP is the only US listed pure play cape company #shipping $SHIP pic.twitter.com/XpVxW1bs93
— Seanergy (@Seanergy_SHIP) April 22, 2021
Baltic #Capesize index +16% to $33k/d (+$4.6k/d)🚀🚀🚀
— Joakim Hannisdahl (@JHannisdahl) April 21, 2021
Brazil/China +10% to $30k/d🚀
May FFA +8% to $36k/d🚀
Jun FFA +7 to $32k/d🚀#DryBulk #Shipping $DSX $EGLE $GBLK $GNK $GOGL $SBLK https://t.co/eU2fwWnFa2 pic.twitter.com/iOF27DVC9a
BDI is at 2472
https://seekingalpha.com/symbol/BDIY:IND
Mind the gap!
— braemarscreen.com (@braemarscreen) April 21, 2021
May Cape trading up to $35K on London open#braemaracm #braemarscreen #FFA #drybulk #Shipping pic.twitter.com/aGtsd8RAPk
Jelco currently owns 9.99% of SHIP
https://fintel.io/doc/sec-sc-13da-2021-april-14-18731-963
Restis - Breibart Family Major Shareholder
Evan Breibart is an experienced shipping executive, investor and lawyer
In 2013, Evan and his wife, Claudia Restis, established Jelco Delta Holding Corp. Jelco Delta acquired a controlling stake in Seanergy in 2014 and has since served as Seanergy's major shareholder providing both financial and strategic advisory support
Evan served from 2001 until 2012 as general counsel of the Athens based Restis Group, one of the largest private shipping companies in Greece. During that period, he was instrumental in growing the family fleet from 18 reefer vessels to over 120 dry bulk and tanker vessels. He was responsible for negotiating and executing a broad range of high value strategic transactions, including the acquisition of the dry bulk division of South African Marine Corporation, the en bloc acquisition of over 30 dry bulk vessels from MISC, a US$1bn plus newbuilding program in Korea and the PRC, a large number of vessel sale and purchase transactions, mortgage backed ship finance and capital markets fund raising (both debt and equity). He was also instrumental in establishing a number of shipping related joint venture companies including SwissMarine and Paramount Tankers and served as a founding officer and director of those companies
In 2011, Evan established a family office, through which he and his family invest in private equity, real estate, art and other asset classes
Evan previously practiced shipping law with leading solicitors Watson Farley William and Holman Fenwick Willan
The number of our common shares issued and outstanding as shown above is based on 156,215,613 common shares issued and outstanding on April 15, 2021 and excludes, as of such date:
•
47,916 common shares issuable upon the exercise of outstanding Class A warrants at an exercise price of $480.00 per share, which warrants trade on the Nasdaq Capital Market under the ticker symbol “SHIPW” and expire in December 2021;
•
301,875 common shares issuable upon the exercise of outstanding Class B warrants at an exercise price of $16.00 per share, which warrants trade on the Nasdaq Capital Market under the ticker symbol “SHIPZ” and expire in May 2022;
•
113,970 common shares issuable upon the exercise of Class B warrants issued to Jelco Delta Holding Corp., or Jelco, pursuant to a Securities Purchase Agreement dated May 9, 2019, at an exercise price of $16.00 per share;
•
13,125 common shares issuable upon the exercise of a representative’s warrant issued to Maxim Group LLC in connection with our public offering which closed on May 13, 2019, at an exercise price per share of $16.00, which warrant expires in May 2022;
•
110,281 common shares issuable upon the exercise of a representative’s warrant issued to Maxim Group LLC in connection with our public offering which closed on April 2, 2020, at an exercise price per share of $3.40, which warrant expires in March 2023;
•
273,046 common shares issuable upon the exercise of outstanding Class D warrants at an exercise price of $1.60 per share, which warrants were issued in our public offering which closed on April 2, 2020 and expire in April 2025;
•
8,732,713 common shares issuable upon the exercise of outstanding Class E Warrants at an exercise price of $0.70 per share, which warrants were issued in our underwritten public offering which closed on August 20, 2020 and which expire in August 2025;
•
32,262,501 common shares, registered for resale hereunder, issuable upon the conversion of outstanding convertible promissory notes that we issued to Jelco, at a conversion price of $1.20 per common share;
•
7,986,913 common shares, registered for resale hereunder, issuable upon the exercise of the common share purchase warrant that we issued to Jelco on January 8, 2021, at an exercise price of $0.70 per common share, which expires in January 2026; and
•
8,571,428 common shares, which could be issued upon the exercise by Jelco of an option (on or before April 26, 2021), to purchase up to 4,285,714 additional units at a price of $0.70 per unit, each unit to immediately separate upon its issuance into one common share and one warrant to purchase a common share, in exchange for the forgiveness of principal under a credit facility in an amount equal to the aggregate purchase price of the units, and upon the subsequent exercise of the warrants issued.
https://www.sec.gov/Archives/edgar/data/0001448397/000114036121013159/nt10023203x1_posam.htm
SHIP... .9156 close... .97 a.h. BullisH psar fliP currently at $1.01... GidDy uP SHIP...
https://schrts.co/QbZjvyzw
$SHIP ... undervalued and oversold here...
I greatly appreciate the positive efforts made by Seanergy Maritime Holdings Corp on Social Media
Our cape, M/V Goodship. Docking and Undocking operations in Yiu Lian Dockyard, China.
— Seanergy (@Seanergy_SHIP) April 13, 2021
We enjoy it in 29 seconds. Real time: 4 hours!”$SHIP pic.twitter.com/cNAcWZv1gc
Our M/V Gloriuship loading Iron Ore in Totoralillo Chile. @DryBulkETF @Seanergy_SHIP pic.twitter.com/OSoDQn7Q99
— Stamatis Tsantanis (@vosc_) April 5, 2021
MM's not letting it rise, trading far below market cap value IMO. Also, Coinbase debut tomorrow might be pulling money away from small cap. The last reason would be because it was being lowered down to do an offering, which I feel would negatively impact trader sentiment as well as the upward momentum here. This needs to get over 3 before another offering is made for an institution. We should be trading and closing over 2 right now IMO. Trading is not a team sport and everyone has to follow the best method that helps them maintain capital and build profit. GLTA
such a joke these greek shippers are,flops and shitz are like dryshitz was,stuck again why do i even try
Anyone know why this PPS is going down so much? All the news I've read was positive. What am I missing?
Thanks
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“We are pleased to announce the agreement to acquire our 15th Capesize vessel, which will grow our fleet by 50% within the last 9 months. The planning of all our recent acquisitions has been well-timed in light of significantly improved market conditions, which attests to our position as a leading pure-play Capesize company.
Given the prompt delivery prospects, the Company is expected to benefit from the rapidly increasing freight rates. The average of the Baltic Capesize Index currently stands at about $19,000 per day, while the Capesize forward freight contracts (“FFA”) for the second quarter and second half of 2021 are trading at above $22,000 per day on average. Based on these FFA rates, the incremental net revenue from the four recently announced acquisitions may exceed $21 million for the remainder of the year, based on their planned delivery schedule.
Moreover, the new debt financing with the competitive underlying cost, will provide additional liquidity supporting our efforts to successfully execute on our strategic goal of sustainable growth and improved shareholder returns.
The improved prospects of the Capesize market are expected to continue for the coming years and based on our expanded fleet and advantageous employment arrangements, we strongly believe that Seanergy is very well-positioned to benefit from this trend.”
Gabble gabble gabble easy money $$$$$$
Nice !!!!!!!!!!!!
Merry Christmas $$$$$!
Weeeeeeeee$$$$$$$$ money!
Timber !!! Buy buy buy $$$$$))
Ship is is unblocked cargo will flow $$$$$
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