Seanergy Maritime Holdings Corp. Announces New Time Charter Agreement for a Panamax Vessel

Seanergy Maritime Holdings Corp. announced that the m/v Bremen Max, a 73,503 dwt, 1993 built Panamax dry bulk carrier, entered into a time charter agreement for a period of about eleven (11) to about thirteen (13) months at a gross charter rate of $20,000 per day. The charter commenced on February 23, 2011.
Dale Ploughman, the Company's Chairman and Chief Executive Officer, stated: "We are pleased to report the period employment of one of our vessels at a good rate which increases our coverage and enhances the visibility of our future cash flows. This employment is expected to generate approximately $7 million of gross revenues during the period of the charter. Following this period charter, the Company has now secured 84% of its operating days for 2011, 40% for 2012 and 19% for 2013 under period employment."
Source: Press Release