Seanergy expands with double buy as United ships out oldest cape

US-listed Greek bulker owner Seanergy Maritime has strengthened its fleet by adding two Japanese-built vessels, while its spin-off United Maritime is shipping out its oldest capesize.

The Stamatis Tsantanis-led Seanergy has picked up an unnamed 2013 Imabari-built newcastlemax and a 2011 Mitsui-built capesize for about $69m.

The 178,459 dwt capsize, which will be renamed Blueship, will initially join Seanergy’s fleet on a six-month bareboat deal, after which the company will buy the vessel for $22.5m. The 207,851 dwt newcastlemax will be renamed Meiship once it changes hands in the first quarter of this year.

Upon delivery, Seanergy’s fleet will comprise two newcastlemaxes and 19 capes with a carrying capacity of about 3.8m dwt.

“We believe that the deliveries of the two new vessels are well-timed, based on the higher level of the freight futures for the second half of 2025,” Tsantanis said.

Meanwhile, United Maritime will be banking about $15m from the 2004-built Gloriuship, which should be delivered to its new owner by mid-July. The 171,314 dwt unit was Seanergy’s oldest cape and was used to set up United back in 2022. The company currently operates eight bulkers: three capes, a pair of kamsarmaxes and three panamax vessels.

Tsantanis (pictured) said the sale was “well-timed” and at a sizeable premium over the vessel’s scrap value. The deal will positively impact the average age of United’s fleet and bolster the company’s cash reserves by some $7m after repaying the existing debt.