Monday, May 31, 2010

Seanergy Maritime Holdings Corp. signs LoI with BVI holding

Seaenergy Maritime Holdings Corp., a Marshall Islands corporation specializing in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers, entered into a Letter of Intent with a British Virgin Islands company Maritime Capital Shipping (Holdings) Limited, with the purpose to acquire a 51% ownership interest in Bermuda-based Maritime Capital Shipping Limited (MCS), for USD$33mln. The BVI company will retain a 49% interest in Maritime Capital Shipping Limited.

The final purchase agreement between Maritime Capital Shipping (BVI) and Seaenergy Maritime Holdings Corp. is expected to be signed by June 1, 2010.

The current controlled fleet of Seaenergy Maritime Holdings comprises 11 drybulk carriers with a total carrying capacity of 1,043,296 dwt. As a result of the acquisition, the size of company's fleet will make 20 dry bulk vessels with a combined cargo-carrying capacity of approximately 1,292,532 dwt.

MCS is headquartered in Hong Kong, and is engaged in providing international maritime transportation services through its ownership of dry bulk vessels.