Seanergy Maritime Announces New Time Charter Agreements

Source: www.gulfoilandgas.com 2/1/2021, Location: Europe

Seanergy Maritime Holdings Corp. has entered into time charter contracts (“T/C”) for two additional Capesize vessels with Anglo American, a leading global mining corporation, and Pacbulk Shipping, a major Asian drybulk operator. Furthermore, another Capesize vessel of the Company is extending its current time charter employment.

M/V Fellowship
The M/V Fellowship has been fixed on a T/C with Anglo American, a leading global mining company. The T/C is expected to commence in the beginning of the second quarter of 2021 and will have a term of minimum 12 to maximum 15 months. The daily hire of the T/C will be based on the 5 T/C routes of the Baltic Capesize Index (“BCI”), while the Company has also 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.

M/V Geniuship
The M/V Geniuship has been fixed on a T/C with Pacbulk Shipping, a major Asian dry bulk operator. The T/C is expected to commence in the beginning of the second quarter of 2021 and will have a term of approximately 11 to 14 months from the delivery date. The daily hire will be based on the 5 T/C routes of the 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 FFA curve.

M/V Gloriuship
The same Asian dry bulk operator, Pacbulk Shipping, has agreed to extend for the second time the T/C of the M/V Gloriuship for a period commencing from the expiration of the current T/C in June 2021 until maximum April 2022. The daily hire will be based on the 5 T/C routes of the BCI, while the Company has the option to convert the daily hire from index-linked to fixed based on the prevailing Capesize FFA curve.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“We are pleased to further expand our relationship with leading global charterers through two additional Capesize vessels entering into long period employment. The relationships we have established with our charterers attest to the operational and commercial quality of our fleet.

Following the delivery of the M/V Fellowship and the M/V Geniuship to their subject charterers, 82% percent of our fleet will be employed under index-linked time-charters allowing Seanergy to be highly correlated with the performance of the Capesize index.

Based on the significantly improved market conditions, the strong fundamentals, and the worldwide positive sentiment, we believe that Seanergy, being the only pure-play Capesize owner listed in the US equity markets, is best positioned to fully benefit from the rising trend in the Capesize market.”


United States >>  1/11/2022 - BS has granted Approval In Principle to Wison Offshore and Marine’s (WOM) Extended FEED on its standardized 3.5 MTPA Floating Liquefied Natural Gas (F...
United States >>  12/23/2021 - President Energy, the energy company with a diverse portfolio of energy assets provides an update on its drilling operations in Salta, Argentina and w...

Brazil >>  12/22/2021 - Petrobras informs that, as part of the actions taken to open the Brazilian natural gas market, signed, with Transportadora Associada de Gás S.A. (TAG)...
Netherlands/Holland >>  12/22/2021 - The 15 millionth TEU container of the year will arrive in the Port of Rotterdam. It is the first time that a European port has broken through this mag...

Belgium >>  12/21/2021 - With a view to offering storage users the possibility to book long term redesigned storage services as well as additional flexibility as from 1 April ...
Netherlands/Holland >>  12/21/2021 - The Port of Rotterdam Authority and the municipality of Rotterdam want shore-based power to be available in the container, cruise, and liquid bulk sec...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.