Secondhand Capesize Bulker Joins Seanergy Maritime

Greek owner and operator of dry bulk vessels, Seanergy Maritime Holdings Corp., took delivery of a 179,238 DWT Capesize dry bulk vessel, which has been renamed to M/V Championship.

The M/V Championship, which was built in 2011 by Sungdong SB, will be employed in the spot market.

Seanergy said that it funded the acquisition cost of the bulker by a senior secured loan agreement with an international financial institution and by a funding arrangement with the company’s sponsor.

M/V Championship is the last delivery of a series of seven secondhand dry bulk vessels that the company agreed to acquire in August 2015.

“In less than four months we managed to significantly increase our fleet size from one to eight vessels with a carrying capacity in excess of 1.1 million DWT. At the current depressed levels of the drybulk market, we strongly believe that our fleet expansion represents a unique opportunity to participate in a market recovery,” Stamatis Tsantanis, the company’s Chairman and Chief Executive Officer, said.

Seanergy currently owns a fleet of eight dry bulk carriers, six Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,145,553 DWT and an average fleet age of about 7.1 years.