Cargill has become a shareholder in Seanergy Maritime Holdings.
It has taken on the stock as part of a deal which saw the Greek owner refinance a vessel which will be fitted with scrubbers funding by the commodity company.
Cargill will hold 1.8 million Seanergy shares after closing a transaction which first came to light at the end of last month.
Stamatis Tsantanis, chief executive of Seanergy, described the deal as a landmark for the company.
He added the shareholding was the start of a strategic partnership with Cargill, one of the company’s main charterers.
As previously disclosed, Cargill is buying the 179,000-dwt Championship (built 2011) from Seanergy as part of a leaseback agreement.
While Seanergy will have the vessel on bareboat, Cargill will ultimately employ the ship on a five-year indexed contract.
Seanergy’s liquidity will be raised by $7.8m, with Cargill is picking up the tab for the scrubber.
The shipowner has a purchase obligation at the end of the five-year period.
“Upcoming regulations, such as the global sulphur Cap, require thorough preparation and collaboration between shipowners and charterers,” Tsantanis said.
“This agreement ensures the company is compliant with upcoming legislation and adequately positioned to benefit from the potential fuel spread upside that may arise in the global bunker market.”
