Seanergy turns to Euronext Athens for fleet expansion

Nasdaq-listed Greek capesize specialist Seanergy Maritime has launched a public offering in Greece for a five-year corporate bond of up to €100m ($114m). The offering runs from July 6 to July 8, with the bonds expected to start trading on Euronext Athens on July 13. The minimum subscription has been set at €1,000 per investor. The issue has a minimum coverage threshold of €75m. If fully covered, Seanergy expects net proceeds of about €95.6m after estimated issue costs of up to €4.4m. The company plans to use €76m of the net proceeds to help fund newbuilding payments or secondhand vessel acquisitions, with the remaining €19.6m earmarked for working capital. Seanergy’s prospectus shows the company’s fleet currently stands at 19 vessels, made up of two newcastlemaxes and 17 capesizes, with a total capacity of about 3.46m dwt and an average age of 14.9 years. The company also has seven newbuildings under construction, including one 211,000 dwt newcastlemax due in the second quarter of 2028 and six capesizes totalling 1.088m dwt. Four of the capesizes are expected to deliver between the second and fourth quarters of 2027, with two more due in 2029. The newbuilding programme carries a total contracted cost of $541.6m. Seanergy has already paid $72.6m in instalments and arranged $236.5m in financing. The company has also agreed to sell two vessels to affiliate United Maritime for $62.2m, a move it expects to boost liquidity by about $25.4m after debt repayment or transfer. The Athens move also follows a broader push by Greek shipping names to tap local capital markets. Safe Bulkers recently cleared the final regulatory steps for a dual listing of its shares on Euronext Athens, adding a domestic investor base to its New York listing. Seanergy has also attracted attention from other Greek shipowners in recent years. Costamare’s Konstantinos Konstantakopoulos and George Economou-controlled Sphinx Investment Corp are both listed among the company’s major shareholders in the bond prospectus. The bond also comes as more Greek shipping names look again at Athens as a capital markets venue. Safe Bulkers recently cleared the final regulatory steps for a dual listing of its shares on Euronext Athens, adding a domestic market alongside its New York Stock Exchange listing. The Polys Hajioannou-led bulker owner said the Athens listing would broaden access to European institutional investors, improve trading liquidity and strengthen its profile in the maritime sector. The move followed the transformation of the former Athens Stock Exchange into Euronext Athens after Euronext acquired a controlling stake in Hellenic Exchanges in late 2025, bringing Greece into the wider European exchange network. Adis Ajdin Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy. Read Next July 2, 2026 Wagenborg and Carisbrooke line up ice-class newbuilds in China July 2, 2026 Bangladesh’s Akij books four bulker newbuilds in China July 2, 2026 UCL launches ship-level climate risk tool for financiers July 2, 2026 AP Moller Holding takes over Ocean Yield July 2, 2026 Hormuz dispute shifts from access to control