Seanergy Maritime orders Capesize newbuilds and sells vessel

Stamatis Tsantanis, the Chairman and Chief Executive Officer of the company, indicated that the transactions are part of a fleet renewal strategy. Including existing orders from China, the firm now has five vessels under construction with a total contract value of $384 million.

The sale of the Squireship is expected by Seanergy Maritime to generate net cash proceeds of about $13.5 million after the repayment of associated debt. An accounting profit of around $4 million from the disposal will be recorded in the second quarter financial results of the company.

Following the delivery of the South Korean-built vessel, which is slated for between April and June 2026, the company will continue providing technical and commercial management services for the ship.