Seanergy Maritime Expands Newbuilding Program with Two Additional Capesize Vessels
Seanergy Maritime, a US-listed Greek shipping company, has significantly expanded its newbuilding program by signing contracts for two additional capesize-class vessels at Chinese shipyards. This move raises the company’s total investment in new tonnage to approximately $226 million. The announcement comes just months after Seanergy placed its first-ever newbuilding order in October 2023, marking a pivotal moment for the company as it seeks to modernize its fleet.
The newly ordered vessels are set to be delivered between 2027 and 2028. In January, Seanergy contracted a 181,500 deadweight ton (dwt) vessel from Hengli Shipbuilding in Dalian, which is a sister ship to a unit ordered last year at the same yard. The contract price for this vessel is around $75.2 million, with delivery scheduled for the third quarter of 2027. Additionally, the company has secured a deal for a 211,000 dwt Newcastlemax vessel at Jiangsu Hantong Ship Heavy Industry Co for approximately $75.8 million, with delivery expected in the second quarter of 2028.
Focus on Fuel Efficiency and Emission Reduction
Seanergy Maritime emphasizes that all three new vessels will incorporate modern, fuel-efficient designs aimed at reducing emissions and improving fuel consumption. This initiative aligns with the company’s broader fleet renewal and decarbonization strategy, which is increasingly important in the shipping industry amid growing environmental concerns.
In conjunction with its newbuilding activities, Seanergy has also agreed to dispose of its 2010-built vessel, the Dukeship. This vessel will be leased through an 18-month bareboat charter to United Maritime, a spinoff of Seanergy. United Maritime has made a downpayment of $5.5 million and will pay $9,450 per day for the charter. At the end of the charter period, United Maritime holds a purchase obligation of $22.1 million for the Dukeship.
Chief Executive Officer Stamatis Tsantanis expressed confidence in the expanded newbuilding program, citing favorable market conditions for capesize vessels. He pointed to strong demand in iron ore and bauxite trades, limited newbuilding supply in the segment, and positive ton-mile trends leading into 2026 as key factors supporting this strategic decision. As the company moves forward, it aims to position itself advantageously in a competitive market while contributing to the industry’s transition towards more sustainable practices.
