Seanergy signals stronger second quarter with fleet fixed for Q3 at $22,375/rate

Nasdaq-listed Seanergy Maritime Holdings reported second quarter and first half 2025 financial results, showing a return to profitability with net income of $2.9m despite market volatility. The company generated net revenues of $37.5m, down from $43.1m in Q2 2024, and achieved an Adjusted EBITDA of $18.3m.

The company’s fleet of 21 vessels (2 newcastlemax and 19 capesize) achieved a daily Time Charter Equivalent of $19,807, outperforming the Baltic Capesize Index by around 6%.

For Q3 2025, Seanergy has already fixed about 62% of its days at a rate of $22,375, with a projected total fleet TCE of $23,081.

Seven vessels will earn an average fixed rate of about $22,400 for the second half of 2025.

“Despite a volatile start to 2025, Seanergy returned to profitability in the second quarter, thanks to a stronger capesize market and our strategic hedging activities. With a fleet of 21 capesize vessels and a modest loan to-value ratio of approximately 50%, we are well-positioned to capitalize on favorable market fundamentals,” explained the chief of the company Stamatis Tsantanis.

Concerning the company’s financing activities,