BET Scouter, image via vesseltracker.com
Greek shipowner Seanergy Maritime Holdings (NASDAQ:SHIP) announced the sale of their 1995-built, 172,173 DWT Capesize bulk carrier, BET Scouter, now destined for demolition. The ship was originally built at a cost of USD $12,118,537 and Seanergy intends to use the proceeds to reduce debt.
In their Q1 filing, Christina Anagnostara, the Company’s Chief Financial Officer, stated:
“Over the first quarter of 2012 we witnessed a particularly unfavorable dry-bulk market that resulted in a 31% reduction in Seanergy’s revenue when compared to the same quarter of 2011, as earnings of vessels employed under floating rate contracts and on short term charter parties reflect the weak spot market conditions. Adjusted Net Loss of $4 million in the first quarter of the current year increased compared to the first quarter of 2011 mainly as a result of a 34% decrease in the average Time Charter Equivalent (“TCE”) rate earned by our vessels, from $14,563 to $9,546.
Seanergy Maritime Holdings current fleet consists of 18 dry-bulk carriers (three Capesize, three Panamax, two Supramax, and ten Handysize vessels) with a total carrying capacity of approximately 1,085,063 DWT. The fleet’s average age is 13.9 years.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,900 members that receive our newsletter.
Have a news tip? Let us know.
SINGAPORE, April 24 (Reuters) – Demand for liquefied natural gas (LNG) to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said....
ROME (Reuters) – An Italian judge on Friday cleared three migrant sea rescue charities that had been accused of abetting irregular immigration in complicity with human traffickers, throwing out a case opened...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,900 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
