en.Wedoany.com Reported - Nasdaq-listed Capesize and Newcastlemax bulk carrier specialist Seanergy Maritime Holdings Corp. (Seanergy) has announced the addition of a new 181,500 deadweight ton (dwt) Capesize bulk carrier equipped with a scrubber to its fleet renewal plan, which now includes six modern eco-design bulk carriers with a total value of approximately $460 million.
Led by Stamatis Tsantanis, Seanergy stated that the latest vessel added is valued at approximately $77.9 million and is expected to be delivered in the fourth quarter of 2027. This transaction expands the renewal plan, which now consists entirely of newbuild vessels equipped with scrubbers, under construction at leading shipyards in Japan and China.
The newbuilding portfolio includes five 181,500 dwt Capesize bulk carriers—four to be delivered between the second and fourth quarters of 2027, and one in the first quarter of 2029—as well as one 211,000 dwt Newcastlemax bulk carrier scheduled for delivery in the second quarter of 2028.
In terms of shipyard allocation, the fleet renewal plan includes three Capesize bulk carriers under construction at Hengli Heavy Industry, two Capesize bulk carriers at Imabari Shipbuilding, and one Newcastlemax bulk carrier at Hantong Ship Heavy Industry.
Meanwhile, in March, the company agreed to sell the Capesize bulk carrier Squireship (built in 2010) to a related party, United Maritime Corporation, for a total purchase price of $29.5 million. The sale is subject to the signing of final documents by both parties, with delivery expected in June 2026. The transaction is expected to generate net cash proceeds of approximately $13.4 million, which will be used to support the newbuilding program and reduce the average age of the fleet.
Currently, Seanergy owns or has finance leases for 20 vessels (2 Newcastlemax and 18 Capesize), with an average age of approximately 14.9 years and a total cargo capacity of 3,633,861 dwt. Following the completion of the sales of Squireship and Dukeship, as well as the delivery of the six newbuildings, the company will own or have finance leases for 24 vessels (3 Newcastlemax and 21 Capesize), with a total cargo capacity of approximately 4,400,390 dwt.
Seanergy Chairman and CEO Stamatis Tsantanis stated that the company has substantially advanced its fleet renewal plan, signing contracts for three additional newbuildings at leading shipyards in China and Japan, and agreeing to sell an older Capesize bulk carrier at a firm secondhand price. The plan now includes six modern eco-design newbuildings and the disposal of three older vessels, representing a significant upgrade in fleet quality, efficiency, and long-term profitability. He noted that the company's "newbuilding strategy combines disciplined growth with risk management." To date, Seanergy has prepaid approximately $69 million from internal funds for the newbuilding program, while financing for four vessels has been secured on favorable terms. Based on in-depth discussions with major charterers, the company expects these vessels to secure multi-year time charter contracts with downside protection above cash breakeven levels, supplemented by profit-sharing mechanisms that retain significant upside potential. Against the backdrop of a tight global newbuilding market, the combination of attractive early delivery dates, competitive financing, and selective disposals represents capital allocation expected to generate substantial long-term returns.
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