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06/25/2020Press Releases

Seanergy Maritime Holdings Corp. Reports Financial Results for the First Quarter Ended March 31, 2020

June 25, 2020 - Athens, Greece - Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today its financial results for the first quarter ended March 31, 2020.

For the quarter ended March 31, 2020, the Company generated net revenues of $13.3 million, a 17% decrease compared to the first quarter of 2019. EBITDA for the quarter was approximately $1 million, compared to EBITDA of $0.4 million in the same period of 2019 . Net loss for the first quarter was $8.3 million compared to net loss of $8.6 million in the first quarter of 2019. The daily Time Charter Equivalent (“TCE”)1 of the fleet for the first quarter of 2020 was $8,481, compared to $7,633 in the first quarter of 2019. The average daily OPEX of the fleet for the quarter was $5,566, which reflects an increase of 15% from $4,830 in the respective quarter of 2019 but is nonetheless in line with the daily OPEX recorded in the fourth quarter of 2019 of $5,584.
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