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08/05/2020Press Releases

Seanergy Maritime Holdings Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2020

August 5, 2020 - Athens, Greece - Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today its financial results for the second quarter and six months ended June 30, 2020.

For the quarter ended June 30, 2020, the Company generated net revenues after voyage expenses of $4.7 million, a 41% decrease compared to the second quarter of 2019. The daily TCE of the fleet for the second quarter of 2020 was $5,424, down 40% from $9,104 in the second quarter of 2019 mainly due to the timing of the spot voyage fixtures in the second quarter of 2020 and the better market conditions in the second quarter of the previous year. The average daily per vessel OPEX of the fleet for the quarter was $5,140, largely in-line with the $5,015 incurred in the second quarter of 2019.  Cash interest and finance costs for the second quarter of 2020 was $4.0 million compared to $3.8 million for the same period in 2019 (see table further below).
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