Seanergy Maritime Reports Third Quarter and Nine-Month 2026 Financial Results

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Seanergy delivered another highly profitable quarter, earning a TCE of $34,266 per day, up 46% year-over-year, and bringing nine-month Net Income to a record $61.9 million and Adjusted EPS to $3.21.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Our board of directors raised the quarterly cash dividend to $0.40 per share – double the first-quarter level – marking our 20(th) consecutive distribution. Including buybacks, we have now returned approximately $117.0 million to our shareholders since the inception of our program. We are raising distributions while comfortably funding a large fleet investment program. We do not trade-off shareholder returns for growth.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“In January 2027, we expect to take delivery of the first newbuilding in Seanergy’s history, approximately four months ahead of schedule, together with the modern 2019-built Japanese Capesize M/V Midnightship. The deliveries will coincide with the planned sale of the 2009-built M/V Friendship.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“With four vessels added this quarter, representing an approximately $264 million investment, our program now comprises twelve vessels, approximately $855 million investment and 2.3 million dwt of additional capacity - expanding our fleet’s carrying capacity by more than 50%. We contracted early, and values have moved in our favor since. Based on market report valuations, the newbuilding vessels are worth approximately $85.0 million more than their contract prices, representing significant value that is not reflected on our balance sheet.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Of the six vessels scheduled to deliver in 2027 and 2028, four have secured, or are close to securing, multi-year employment with first-class charterers. These charters combine profitable floor rates with index-linked upside, providing downside protection from delivery while retaining meaningful participation in a strong Capesize market.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“The program’s funding is progressing well, supported by strong cash reserves of $167.9 million, a staggered payment schedule with the largest instalments falling due upon the respective deliveries, and diversified sources of capital. On that basis, we remain well positioned to execute our strategy while preserving our balance sheet strength and maintaining cash distributions to our shareholders.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Twelve vessels give us the scale, fleet profile and delivery visibility to meet our medium-term objectives. The focus shifts to execution – financing, employing and integrating these vessels as they are delivered, while preserving the flexibility to act selectively on attractive opportunities.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“The Capesize market performed strongly in the third quarter, supported by record bauxite volumes, continued growth in iron ore ton-mile demand and resilient coal trades.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Market fundamentals remain constructive, underpinned by relatively limited fleet growth, an ageing Capesize fleet and increasing voyage distances driven by rising West African and Brazilian exports of iron ore and bauxite.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“With approximately 86% of fourth-quarter days already fixed, we expect Q4 TCE to reach approximately $33,284 per day, resulting in full-year 2026 TCE of approximately $31,000 per day, up roughly 48% compared to 2025.”

Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

“Our strategy is working: strong earnings are funding both a rising dividend and a transformational fleet renewal, while older vessels are monetized at firm market values.”