Seanergy Maritime Holdings Corp/$SHIP

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About Seanergy Maritime Holdings Corp

Seanergy Maritime Holdings Corp is an international shipping company that provides marine dry bulk transportation services through a modern fleet of Capesize vessels. It generates a majority of its revenue from the vessels. The company's fleet of vessels includes Blueship, Meiship, Kaizenship, Iconship, Titanship, Flagship, Paroship, Worldship, Hellasship, Partnership, Championship, Patriotship, Dukeship, Honorship, Fellowship, Knightship, Lordship, Premiership, Squireship, and Friendship.
Ticker
$SHIP
Sector
Mobility
Primary listing
NASDAQ
Employees
96
Headquarters
Glyfada, Greece
Website
www.seanergymaritime.com

SHIP Metrics

BasicAdvanced
$402M
6.48
$2.86
0.98
$0.58
4.31%

Bulls say / Bears say

Seanergy’s second-quarter net income reached $26.2 million and adjusted EPS was $1.32, while fleet TCE rose 63% year on year to $32,355 a day. It has fixed 55% of second-half ownership days at $30,800 and guided to roughly $31,000 Q3 TCE, giving useful cash-flow and dividend visibility. (Seanergy Maritime)
The $591 million renewal programme adds seven newbuildings and one 2022-built Capesize, with four ships due in 2027; three already have multi-year charters with floor rates of about $23,100 a day. This should modernise the fleet and reduce delivery-period downside while retaining exposure to stronger index rates. (Seanergy Maritime)
The Capesize market is currently tight: recent data showed tonne-mile demand 7.9% above a year earlier while available tonnage was 1.8% lower, producing a 1.10 demand-to-supply indicator. The C5TC benchmark was still $51,636 a day on 11 September, supporting Seanergy’s near-term earning power. (AJOT)
Capesize earnings are exposed to China’s steel cycle. Splash247 reports that Chinese mills face breakeven or negative margins, falling output and rising inventories; analysts warn that production curbs could reduce iron-ore demand and freight rates. (Splash247)
The strong market is encouraging a supply response: 123 Capesize newbuildings had been ordered in 2026 by early September, above the full-year totals for both 2024 and 2025. Deliveries from 2027 onwards could weaken rates just as Seanergy expands its fleet. (The Signal Group)
Seanergy is committing to an approximately $591 million renewal programme while carrying $294.9 million of long-term debt and $59.5 million of cash at 30 June. The new €100 million five-year bullet bond adds to the financing burden, so a market downturn before the new ships earn could pressure liquidity and shareholder returns. (Seanergy Maritime)
Data summarised monthly by Lightyear AI. Last updated on 22 Sept 2026.

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Seanergy Maritime Q2 Earnings Call Highlights

MarketBeat2 months ago
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