Seanergy Maritime Holdings Corp. (SHIP)

[benfrankledger]

Year-to-date in 2017, the drybulk market improved considerably compared to the historical lows in recent 2016. The Baltic Capesize Index has reached levels of more than $20,000 per day since October and a value of five year old Capesize exceeds $33 million. Just to put things into perspective about the Capesize market, the relevant 20 year averages are time charter equivalent of $33,500 per day for the rates, ten times more than the lows of last year and more than 50% higher than the current levels and vessel value of $48 million and that is 1250% more than the lows of last year and also 50% higher than the current levels.