Seanergy Maritime Shares Q2, H1 Financial Results

Seanergy Maritime shared their second quarter and first half 2026 financial results. Highlights include:

 

Financial Performance & Consistent Shareholder Returns — $108.4 Million Returned Since Program Inception

• Record Q2 and H1 profit of $26.2 million and $35.9 million, respectively, up from $2.9 million net income and $4.0 million loss in the prior-year periods
• Quarterly cash dividend of $0.35 per share, the Company’s 19^th consecutive cash dividend; payout of approx. 27% of Q2 Adjusted EPS
• $108.4 million of total capital returned to shareholders, comprising $63.2 million of cash dividends ($3.19 per share) and $45.2 million of share, warrant and convertible note repurchases

Fleet Growth and Renewal – $591 million Aggregate Investment Plan

• Entered into an agreement to acquire two Japanese-built Capesize vessels – a newbuilding and a modern 2022-built vessel – for aggregate consideration of approximately $130 million, both scheduled to join the fleet in early 2029
• Expanded fleet renewal and growth program from six to eight modern vessels comprising seven newbuildings and one 2022-built Capesize, for an aggregate investment of approximately $591 million; four vessels to be delivered in 2027
• Completed the profitable sale of the 2010-built M/V Squireship, generating approximately $13.8 million of net liquidity and a gain on sale of approximately $4.6 million, while continuing to provide technical and management services to the vessel
• Secured long-term time charters with leading counterparties for the three China-built 2027 newbuildings with floor rates covering expected cash breakeven, as well as potentially significant index-linked market upside

Capital Resources — $115 Million Bond and $296.5 Million of Facilities Secured

• Successfully completed a USD$115 million (€100 million) 5-year unsecured corporate bond offering in Greece, further diversifying the Company’s capital resources and supporting its fleet growth and renewal program
• Fleet renewal program substantially funded: $72.6 million advanced from own funds and approximately $296.5 million of pre- and post-delivery facilities secured, alongside the USD$115 million (€100 million) bond

Commercial Performance

• Q2 2026 fleet TCE of $32,355 per day, an increase of 63% year over year
• Estimated Q3 2026 TCE of approximately $31,000 per day - increased H2 earnings visibility