Photo: Illustration/Source: Echochlor

Seanergy Maritime fits ballast water treatment systems on its entire fleet

Pure-play Capesize vessel owner Seanergy Maritime Holdings has completed the installation of ballast water treatment systems on its entire fleet.

The company’s operating fleet consists of 17 Capesize vessels with an average age of approximately 12.1 years.

“We have now successfully completed installations of ballast water treatment systems on 100% of our fleet and have upgraded various vessels by installing Energy Saving Devices.

In most cases, these projects are accompanied by agreements with our charterers to increase the daily hire rate, reflecting the improved performance of the underlying vessels, as well as to extend the respective time-charter periods. As a result, we believe our fleet is optimally positioned commercially and operationally,” Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, said.

The company is also engaged in biofuel trials with its charterers as it looks at ways of decreasing the carbon footprint of its vessels.

Sustainability has been high on the company’s agenda which has been linked to the bulker player’s ability to secure financing.

Namely, in early July, Seanergy concluded a second sustainability-linked senior credit facility with an unnamed European bank by upsizing and refinancing the existing loan secured by the M/V Worldship at improved terms. The new sustainability-linked loan facility of $38 million is secured by the M/V Worldship and the company’s newly acquired vessel M/V Honorship.

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Seanergy reported an income for the 2nd quarter of 2022 of approximately $5.9 million, while that of the first half was $9.6 million, reaching record profitability.

“Looking ahead, considering the favorable demand and vessel-supply fundamentals of our sector, we are optimistic about the prospects of the Capesize market for the coming years,” Stamatis said.