Seanergy Maritime Hldgs Corp Stock Price, News & Analysis

Seanergy Maritime Holdings Corp (NASDAQ: SHIP) announced significant financial results for Q4 and FY 2021, reflecting exceptional growth. Q4 2021 earnings per share (EPS) were $0.12 (basic) and $0.11 (diluted), with net revenues reaching $56.7 million, a 166% increase year-over-year. Full-year 2021 net revenues rose to $153.1 million, up 142%, with an adjusted net income of $53.3 million. The company declared regular and special dividends of $0.025 per share each, totaling $35.6 million in shareholder returns. A buyback of $10 million in convertible notes further demonstrates commitment to shareholder value.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will release its financial results for Q4 and the full year ended December 31, 2021, on March 10, 2022, before the market opens. A conference call is scheduled for the same day at 11:30 a.m. Eastern Time to discuss the results. Seanergy, based in Greece, operates a fleet of 17 Capesize vessels with a total cargo capacity of approximately 3,011,083 dwt. The company stands as a pure-play Capesize ship owner publicly listed in the U.S.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) announced a refinancing agreement with a Japanese lender for its Capesize vessel, M/V Partnership. The $21.3 million transaction will secure a bareboat charter for eight years, significantly reducing the interest rate by approximately 210 bps. The refinancing will also free up $4.3 million in additional liquidity. The company expects to exercise its option to repurchase the vessel after the charter period for $2.39 million. Following this deal, Seanergy will eliminate all junior debt, strengthening its financial position.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) has regained compliance with Nasdaq's minimum bid price requirement, as confirmed by the Nasdaq Stock Market on February 15, 2022. This compliance resolves previous concerns regarding the company’s stock value. Seanergy, a leading Capesize ship-owner in the US, operates a fleet of 17 vessels, with a total carrying capacity of approximately 3,011,083 deadweight tons. The company is based in Glyfada, Greece, and remains focused on providing marine dry bulk transportation services.

Seanergy Maritime Holdings announced it received a notice from Nasdaq regarding its common stock, indicating non-compliance with the minimum bid price of $1.00 per share for 30 consecutive days. The notice was dated January 26, 2022, and the company has 180 days, until July 25, 2022, to regain compliance. Seanergy believes its shares are undervalued and is optimistic about a natural recovery in stock price without a reverse split. The company operates a fleet of 17 Capesize vessels, focusing on marine dry bulk transportation.

Seanergy Maritime Holdings Corp. has provided an update on its time charter equivalent (TCE) rate guidance and EBITDA projections. For the fourth quarter of 2021, the average TCE is expected to exceed $36,000 per ship per day, surpassing the previous estimate of $35,200. Preliminary TCE guidance for the first quarter of 2022 stands at approximately $19,000. The company anticipates strong EBITDA generation for FY 2022, supported by a proactive hedging strategy. Seanergy's modern fleet of 17 Capesize vessels positions it well for anticipated market recovery.

Seanergy Maritime Holdings Corp. announced a $5 million buyback of convertible notes, part of a plan that could total $10 million. This buyback, totaling $21.6 million to date, aims to prevent dilution of 4.17 million shares and is expected to save $275,000 annually in interest. Although the company anticipates a non-cash loss of $1.5 million in Q1 2022, it will eliminate average annual non-cash charges of $0.5 million from 2022-2024. The company expresses confidence in its value and aims to enhance shareholder value through reduced financial leverage.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) will participate in Capital Link's Corporate Presentations Webinar on January 20, 2022, at 10 am ET. The presentation will cover the company's operations, business development, and growth outlook in the dry bulk sector. Participants can register for the webinar to receive further details and submit questions during the session. Seanergy operates a fleet of 17 Capesize vessels, with a total cargo capacity of approximately 3,011,083 dwt, making it the only pure-play Capesize ship-owner publicly listed in the US.

Seanergy Maritime has announced the refinancing of its existing loan facility for the M/V Geniuship, moving from a 10.5% fixed interest rate to a new facility at LIBOR + 3.5%. This transition, with an initial balance of $15 million and a five-year term, is expected to lead to significant cash flow improvements. The company anticipates interest savings of approximately $0.9 million for 2022 and an average of $0.5 million per year from 2023 to 2025, resulting in total expected savings of $2.3 million over three years.