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Seanergy Maritime Holdings Corp. Announces Delivery of the Capesize Vessel M/V Partnership

ATHENS, GREECE--(Marketwired - Jun 1, 2017) - Seanergy Maritime Holdings Corp. (the "Company" or "Seanergy") ( NASDAQ : SHIP ), announced today that on May 31, 2017 it took delivery of the M/V Partnership, a 179,213 dwt Capesize dry bulk vessel, built in 2012 by Hyundai in South Korea. The Company entered into the agreement to acquire the M/V Partnership in April 2017. The Company funded the gross purchase price of $32.65 million by a secured loan facility from a European bank and from financing arrangements with the Company's sponsor.

Stamatis Tsantanis, Seanergy's CEO, commented: "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."

Following this delivery the Company owns a modern fleet of eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8.1 years:

Vessel Name   Vessel Class   Capacity (dwt)   Year Built   Yard
Partnership   Capesize   179,213   2012   Hyundai
Championship   Capesize   179,238   2011   Sungdong SB
Knightship   Capesize   178,978   2010   Hyundai
Lordship   Capesize   178,838   2010   Hyundai
Gloriuship   Capesize   171,314   2004   Hyundai
Geniuship   Capesize   170,057   2010   Sungdong SB
Premiership   Capesize   170,024   2010   Sungdong SB
Squireship   Capesize   170,018   2010   Sungdong SB
Leadership   Capesize   171,199   2001   Koyo Imabari
Guardianship   Supramax   56,884   2011   CSC Jinling Shipyard
Gladiatorship   Supramax   56,819   2010   CSC Jinling Shipyard
Total / Average       1,682,582   8.1 years    

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is an international shipping company that provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The Company currently owns a modern fleet of eleven dry bulk carriers, consisting of nine Capesizes and two Supramaxes, with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of about 8.1 years.

The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company's common shares and class A warrants trade on the Nasdaq Capital Market under the symbols "SHIP" and "SHIPW," respectively.

Please visit our company website at: www.seanergymaritime.com 

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "may," "should," "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company's operating or financial results; the Company's liquidity, including its ability to pay amounts that it owes and obtain additional financing in the future to fund capital expenditures, acquisitions, refinancings and other general corporate activities; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the SEC, including its most recent annual report on Form 20-F. The Company's filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.