Seanergy Maritime Holdings Corp
NASDAQ:SHIP
Seanergy Maritime Holdings Corp
Seanergy Maritime Holdings Corp. operates as an international shipping company. The company is headquartered in Athina, Attiki and currently employs 46 full-time employees. The company went IPO on 2007-10-26. The firm provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The company owns a modern fleet of seventeen dry bulk carriers, consisting of seventeen Capesizes, with a combined cargo-carrying capacity of approximately 3,011,083 deadweight tonnages (dwt) and an average fleet age of about 11.7 years. Its fleet comprises vessels, including Flagship, Worldship, Gloriuship, Geniuship, Premiership, Squireship, Championship, Lordship, Goodship, and Hellaship, among others. The firm's subsidiaries, which are all, owned by it either directly or indirectly, conduct all of its operations and own all of its operating assets. The firm manages its vessel's operations, insurances and bunkering, and has the general supervision of its third-party technical and commercial managers. V.Ships Limited, which is an independent third party, provides technical management for its vessels.
Seanergy Maritime Holdings Corp. operates as an international shipping company. The company is headquartered in Athina, Attiki and currently employs 46 full-time employees. The company went IPO on 2007-10-26. The firm provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The company owns a modern fleet of seventeen dry bulk carriers, consisting of seventeen Capesizes, with a combined cargo-carrying capacity of approximately 3,011,083 deadweight tonnages (dwt) and an average fleet age of about 11.7 years. Its fleet comprises vessels, including Flagship, Worldship, Gloriuship, Geniuship, Premiership, Squireship, Championship, Lordship, Goodship, and Hellaship, among others. The firm's subsidiaries, which are all, owned by it either directly or indirectly, conduct all of its operations and own all of its operating assets. The firm manages its vessel's operations, insurances and bunkering, and has the general supervision of its third-party technical and commercial managers. V.Ships Limited, which is an independent third party, provides technical management for its vessels.
Profitability: Seanergy marked its fifth consecutive year of profitability in 2025, demonstrating strong earnings and cash flow.
EPS & Dividend: Reported Q4 EPS of $0.68 and full year EPS of $1.28; declared $0.43 per share in dividends for 2025, including $0.20 for Q4.
Fleet Renewal: Secured three eco-design newbuildings for $226 million, funded with attractive financing, while selling older vessels to release capital.
Strong Balance Sheet: Ended 2025 with fleet loan-to-value at 43% and $62.7 million in liquidity, maintaining conservative leverage.
Market Outlook: Management remains optimistic about the Capesize market, citing tight fleet supply, rising long-haul demand, and supportive commodity trends.
Contract Strategy: About 35% of available fleet days already fixed on longer-term contracts at attractive rates; the company will continue to adjust mix as the market strengthens.
Dividend Policy: Management does not expect the newbuild program to affect dividend payments going forward.
