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Seanergy Takes Delivery of its 17th Capesize, M/V Worldship, with Immediate Commencement of Period Charter

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Seanergy Takes Delivery of its 17th Capesize, M/V Worldship,
with Immediate Commencement of Period Charter

September 8, 2021 - Glyfada, Greece - Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it took delivery of the previously-announced Capesize vessel acquisition, the M/V Worldship (the “Vessel”). The Vessel is a 181,415 dwt Capesize bulk carrier, built in 2012 by Imabari of Japan. The M/V Worldship is the sixth Capesize delivery that Seanergy has successfully completed in 2021 to-date.

M/V Worldship has already entered a time charter (“T/C”) with an existing charterer of the Company, at a gross fixed rate of $31,750 per day for a period of about 12 to about 16 months from the delivery.

The purchase price has been funded with cash on hand, while Seanergy is in advanced discussions with a leading bank for financing part of the acquisition cost at competitive terms.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“I am pleased to announce the addition of the seventeenth Capesize vessel to our fleet and the concurrent commencement of her period employment. Including this delivery and the sale of the M/V Leadership, 94% percent of our fleet is employed under period time charters, 87% of which are index-linked T/Cs. This allows us to fully utilize our fleet in order to capitalize on the robust market rates.

We are excited to see the strongest Capesize market of the last 11 years, with daily rates exceeding $45,000, which affirms our commercial strategy.

Based on the prevailing Capesize supply-demand fundamentals, we remain confident about the prospects of our market for the years to come.”

Company fleet, following the delivery of M/V Leadership to the new owners:

Vessel Name

Vessel Class

Capacity (DWT)

Year Built

Yard

Employment

Patriotship

Capesize

181,709

2010

Imabari

T/C – fixed rate

Worldship

Capesize

181,415

2012

Koyo - Imabari

T/C – fixed rate

Hellasship

Capesize

181,325

2012

Imabari

T/C Index Linked

Fellowship

Capesize

179,701

2010

Daewoo

T/C Index Linked

Championship

Capesize

179,238

2011

Sungdong SB

T/C Index Linked

Partnership

Capesize

179,213

2012

Hyundai

T/C Index Linked

Knightship

Capesize

178,978

2010

Hyundai

T/C Index Linked

Lordship

Capesize

178,838

2010

Hyundai

T/C Index Linked

Goodship

Capesize

177,536

2005

Mitsui

Voyage/Spot

Friendship

Capesize

176,952

2009

Namura

T/C Index Linked

Tradership

Capesize

176,925

2006

Namura

T/C Index Linked

Flagship

Capesize

176,387

2013

Mitsui

T/C Index Linked

Gloriuship

Capesize

171,314

2004

Hyundai

T/C Index Linked

Geniuship

Capesize

170,057

2010

Sungdong SB

T/C Index Linked

Premiership

Capesize

170,024

2010

Sungdong SB

T/C Index Linked

Squireship

Capesize

170,018

2010

Sungdong SB

T/C Index Linked

Total / Average age

2,829,630

11.5

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. Following the delivery of M/V Leadership to the new owners, the Company's operating fleet will consist of 16 Capesize vessels with an average age of 11.5 years and aggregate cargo carrying capacity of approximately 2,829,630 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

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 service its indebtedness; 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; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; 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.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Daniela Guerrero
230 Park Avenue Suite 1536
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com

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