US-listed pure-play capesize company Seanergy Maritime has returned to the Chinese leasing market to finance its latest bulker acquisition.
Brokers report the Stamatis Tsantanis-led shipowner has sold the 181,400-dwt Iconship (built 2013) to Avic Leasing for an undisclosed price.
The company is said to have taken the Imabari-built vessel back on a five-year bareboat charter at an undisclosed fee, according to VesselsValue.
Seanergy recently told investors that it had obtained credit committee approval from one of its “close lending partners” for a new sale-and-leaseback agreement to finance the acquisition of the Iconship.
The shipowner announced its acquisition of the Iconship in March 2024 alongside its fourth-quarter results, but declined to disclose what it paid for the ship.
Brokers identified the ship as the 181,400-dwt Kinokawa Maru, with a price tag of $33.5m after passing a special survey.
“The agreement for this acquisition was well timed as it occurred prior to the steep upwards adjustment in vessel values witnessed over the recent weeks,” Tsantanis said at the time.
The vessel is currently said to have a value of $37.8m, according to VesselsValue.
In March, Seanergy agreed to acquire an additional capesize vessel built in 2012 in Japan for $35.6m, which it expects to fund through a combination of cash on hand and debt. Delivery is expected to take place in the second half of this year.
Seanergy’s fleet currently stands at 17 capesizes all of which are on medium-term charters to the likes of NYK Line, Glencore, Cargill, Uniper and Oldendorff.
Shares in Seanergy were down just over 5.6% to $11.47 at the close of trading in New York on Tuesday.
It was among a number of shipping stocks that sold off during the trading day on the back of reports of a potential Gaza-Israel peace deal.
