A strong interest has been recorded in second hand capesize bulk carriers during the last month. “Shipowners buy a number of used capes,” the president and managing director of Seanergy Maritime Stamatis Tsantanis noted, adding that they are sold “at stable prices.”
“We firmly believe that we are in a very good position,” Tsantanis said, comparing the market figures.
He added that the company maintains very low leverage, which is around 50%. “And in this particular transaction, it will be around 50%-60%, combined with perhaps other assets or leasing transactions.”
It is pointed out that in approximately eight weeks in 2024 a total of 40 capes of more than 7.4 million dwt have changed hands, while throughout 2023 a total of 122 vessels were sold, with a total transport capacity of 22.3 million TEUs.
Better results
In the fourth quarter of 2023, the company posted net sales of 39.4 million US dollars, compared to 28.5 million US dollars in the same period last year. Net income and adjusted net income for the quarter stood at 10.8 million and 11.4 million, respectively, compared to net income of 0.5 million and adjusted net income of 0.9 million in the fourth quarter of 2022.
Adjusted EBITDA totaled 23.9 million US dollars versus 13.3 million for the same period in 2022.
The fleet’s daily average freight rate (TCE) for the fourth quarter of 2023 was at 24,920 US dollars, compared to 17,294 dollars for the same period in 2022.
In 2023, net sales reached 110.2 million, compared to 125.0 million in 2022. Net income and adjusted net income for the twelve months amounted to 2.3 million US dollars and 11.9 million US dollars, respectively, compared to net income of 17.2 million and adjusted net income of 23.3 million in 2022.
