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Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company's common shares trade on the Nasdaq Capital Market under the symbol "SHIP" and class A warrants under "SHIPW".
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Dry Bulk market firmer in 2H2019 despite continued trade overhang. A rebound in iron ore shipments out of Brazil and the start of dry-docking activity tied to the installation of scrubbers in advance of the upcoming IMO2020 regulations have been positive, especially in the Cape market.
- Increasing EBITDA estimates to $26.3 million in 2019 (from $19.9 million) and $50.2 million in 2020 (from $39.6 million) due to a positive forward cover update. Latest investor presentation shows 73% of available 3Q2019 days booked at an average rate of...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.