Greek bulker owners Seanergy Maritime and United Maritime have completed sales of aging capesize vessels, banking profits and cutting fleet exposure to older tonnage.
Seanergy confirmed the sale of the 2010-built Geniuship to an undisclosed buyer for $21.6m. The 170,057 dwt vessel, acquired in 2015, was handed over in September. The transaction is expected to generate around $12m in net proceeds and a book gain of $2.5m, while also avoiding the cost of an upcoming dry docking.
“This proactive sale aligns perfectly with our fleet renewal strategy and enhances both our liquidity position and earnings profile,” said chairman and CEO Stamatis Tsantanis.
Seanergy’s fleet now counts 20 vessels, split between 18 capes and two newcastlemaxes, with an average age of 14.3 years.
Meanwhile, sister company United Maritime finalised the disposal of its oldest ship, the 2005-built Goodship. The 177,536 dwt bulker was delivered this month to Far Eastern buyers for about $15.4m. Net cash proceeds are put at $8.2m, with a book profit of $0.6m.
The deal marks the final step in United’s exit from vintage capesize ownership, following the earlier sales of the 2004-built Gloriuship and two years younger Tradership. With these disposals, the company has reduced the average age of its fleet by three years to 12.7.
“The Goodship sale concludes our strategic exit from older tonnage and leaves us with a younger, leaner, and more commercially competitive fleet,” Tsantanis said in his parallel role as United’s CEO.
United now controls five vessels — two kamsarmaxes and three panamaxes — totalling 396,297 dwt. The company holds cash reserves of over $20m, giving it room to consider both shareholder returns and new fleet opportunities.
