Key Developments For Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. (SHIP.O) (Consolidated Issue listed on NASDAQ Global Market)
Seanergy Maritime Corp. Completes Acquisition of Controlling Interest in Bulk Energy Transport (Holdings)
Seanergy Maritime Corp. announced agreement to purchase a 50% ownership interest in Bulk Energy Transport (Holdings) Limited (BET) from Constellation Bulk Energy Holdings, Inc. BET's other equity owner is Mineral Transport Holdings, Inc. (Mineral Transport), which is an affiliate of members of the Restis family, one of the Company's major shareholders. The purchase price for the shares was $1.00. Concurrently with the closing of the acquisition, BET has entered into a technical management agreement with Enterprises Shipping and Trading, S.A. (EST) and a commercial brokerage agreement with Safbulk Maritime S.A. (Safbulk) at terms similar to those that the Company's existing fleet has with these entities. Each of EST and Safbulk are affiliated with members of the Restis family and are the technical manager and commercial broker of the Company's current fleet.
Seanergy Maritime Corp Secures Time Charter Employment for Two Handy Vessels
Seanergy Maritime Corp. announced that it has entered into time charter contracts with MUR Shipping BV, a first class charterer, for its two handy dry bulk carriers, the m/v African Oryx and the m/v African Zebra, for a period of minimum 22 to 25 months at gross floor charter rates of $7,000 and $7,500 respectively per day and a 50% adjusted profit share to be distributed equally between owners and charterers calculated on the average spot Time Charter Routes derived from the Baltic Supramax Index. The charters will commence on July 17, 2009 and July 20, 2009 respectively, upon delivery from their current commitments. Based on the floor rates, this employment is anticipated to generate at least $9.7 million of gross revenues for the minimum scheduled period of the charters.
Seanergy Maritime Corp. Enters Into Agreement To Acquire Bulk Energy Transport (Holdings) Limited
Seanergy Maritime Corp. announced that it has entered into an agreement with Constellation Bulk Energy Holdings, Inc. (Seller) to acquire Seller's 50% ownership interest in Bulk Energy Transport (Holdings) Limited (BET) for a nominal cash consideration. The remaining 50% of BET is owned and will remain under the ownership of affiliates of the Restis family. The acquisition is expected to close by July 31, 2009.
Seanergy Maritime Corp. Announces Appointment of New Chief Financial Officer
Seanergy Maritime Corp. announced that Mr. Alexis Komninos, the current Chief Financial Officer of the Company, will resign. Upon the resignation of Alexis, the Company announced that Ms. Christina Anagnostara will be appointed as the new Chief Financial Officer of the Company. This transition is expected to take place in November 2008.
Seanergy Maritime Corp. Announces Exchange Change-Stock Exchange
The Stock Exchange reported that Seanergy Maritime Corp. has been delisted from AMEX to NASDAQ.
