Seanergy Maritime Holdings Corp ( (SHIP) ) has released its Q3 earnings. Here is a breakdown of the information Seanergy Maritime Holdings Corp presented to its investors.
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Seanergy Maritime Holdings Corp. is a leading Capesize shipping company that provides marine dry bulk transportation services with a modern fleet of Capesize vessels. The company is publicly listed in the U.S. and operates a fleet consisting of 20 vessels, including two Newcastlemax and 18 Capesize vessels.
In its latest earnings report for the third quarter and nine months ended September 30, 2025, Seanergy Maritime Holdings Corp. announced net revenues of $47.0 million for the third quarter, up from $44.4 million in the same period of 2024. The company also declared a quarterly cash dividend of $0.13 per share, marking its 16th consecutive quarterly dividend.
Key financial highlights include a net income of $12.8 million for the third quarter, slightly up from $12.5 million in the previous year. The adjusted EBITDA for the quarter was $26.6 million, compared to $26.8 million in the same period of 2024. For the nine-month period, net revenues were $108.7 million, down from $125.8 million in 2024, with a net income of $8.8 million, compared to $36.8 million in the previous year.
The company made significant strategic moves, including entering its first-ever newbuilding contract as part of its fleet renewal strategy and the profitable sale of a vintage Capesize vessel. These actions are aimed at enhancing liquidity and modernizing the fleet. The expiration of all outstanding warrants also simplified the company’s capital structure, eliminating potential dilution.
Looking ahead, Seanergy Maritime Holdings Corp. remains optimistic about its future prospects, with a focus on fleet renewal and modernization, disciplined capital allocation, and consistent shareholder value creation. The company is well-positioned to benefit from anticipated strong Capesize market rates, supported by robust demand for iron ore, bauxite, and coal.