Seanergy Maritime (SHIP) Stock: Gaining On Big Vessel Acquisition

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is having an incredibly strong day in the market today, and for good reason. The company announced that it has acquired yet another vessel. Of course, this led to excitement among investors and gains in the stock. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (12:50), SHIP is trading at $0.66 per share after a gain of $0.04 per share or 6.64% thus far today.

SHIP Gains On Vessel Acquisition

As mentioned above, Seanergy Maritime Holdings is having an incredibly strong day in the market today after announcing that the company has acquired yet another vessel. The acquired vessel is known as a Capesize dry bulk vesssel and it was built in 2012 by Hyundai in South Korea.

According to the press release the company provided, SHIP entered into an agreement to acquire the vessel in April of 2017. The vessel came at a purchase price of $32.65 million, a relatively low price. The company covered the cost of the acquisition by a secured loan facility through a European bank as well as financing arrangements with the Company’s sponsor. In a statement, Stamatis Tsantanis, CEO at SHIP, had the following to offer…

We are pleased to take delivery of another modern Capesize vessel. We remain committed to expanding our quality fleet in the Capesize segment, which we strongly believe represents the best fundamentals in the dry bulk industry. We will continue to actively pursue accretive acquisition opportunities of quality Capesize vessels with an aim of increasing value for our shareholders.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on SHIP. In fact, Kenny Soulstring, Chief Strategic Analyst at CNA Finance is in the process of reviewing the stock as we speak. So, stay tuned for more news to come!

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