At the time of writing, shares of Seanergy Maritime Holdings Corp. (SHIP) were up 5.29% at $0.964 in after-market trading. SHIP stock closed the last session at $0.92, increasing by 5.79% or $0.05. Shares of the company fluctuated between $0.8712 and $0.92 throughout the day. The number of shares exchanged was 7.32 million, less than the company’s 50-day daily volume of 18.83 million and lower than its Year to date volume of 19.57 million. In the past 12 months, the company’s stock has retreated -61.57%, and in the last week, the stock has moved down -10.24%. For the last six months, the SHIP stock has gained a total of 78.03%, and over the last three months, the stock has increased by 6.47%. The stock has returned 70.31% so far this year.
SHIP stock’s current business model
Seanergy Maritime Holdings Corp. is a publically listed company that is considered the only pure-play Capesize ship-owner in US. The company’s main operations include the seaborne marine dry bulk transportation service. This service of transportation is done through a fleet of the Capesize ships and vessels primarily for iron ore and coal worldwide. Along with the recent acquisition of Capesize vessels, the total number of ships will become 15. The age of the operating fleet is averaged around 11.9 years and the aggregate cargo capacity in deadweight ton is 2,642,463.
Recent developments regarding Seanergy Maritime
Let us look into what developments were made in the first 15 days of April in Seanergy Maritime Holdings Corp.
Announcement of loan $37.5 million loan facility
The SHIP stock company announced that it has received a loan facility’s letter of commitment for $37.45 million. The loan was extended by one of the company’s existing lenders and the earliest maturity date set up for the loan facility is December 2024. The annual interest rate for this loan will increment by 3.5% plus LIBOR.
The proceeds of this loan are planned to be used for the refinancing of $24.45 million existing facility secured by M/V Squireship and M/V Leadership. This refinancing will also be secured by a new and unencumbered M/V lordship. Furthermore, the remaining liquidity from the incremental proceeds of $12 million will be used to finance the acquisition of vessels which the company, newly announced.
Participation in “Decarbonization in Shipping “ Forum
Seanergy Maritime announced on 8th April that it was going to take part in the Capital Link’s Decarbonization in Shipping forum taking place from 14th-15th April (now). The event will have a roadmap to decarbonization that will address the issues related to maritime transportations and businesses which include regulations, infrastructure, technology, alternative fuels, and propulsion systems.
Seanergy Maritime will have the chance to bring into the spotlight its commitment to Environment, Social and Governmental plan (ESG). It is also advocating and pursuing the adoption of a greener shipping industry with environmental-related regulations.
Filing Annual Report form of 20-F to SEC
ON 2nd April, SHIP stock announced that it has filed the 20-F Annual Report form to SEC. To access the Annual report of the 20-F file, visit the company’s website or just click here.
