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Seanergy Maritime Holdings Corp logo

Seanergy Maritime Holdings Corp

seanergymaritime.com

What Do They Do?

Transports dry bulk commodities by sea for national, regional and international companies that charter its vessels.

How Do They Make Money?

Charterers pay a daily hire for vessel use over a time-charter period, generally in advance; spot charters charge a set rate per ton or a lump sum for a voyage, with the service delivered from loading to discharge.

FY2025 revenue

Who Are Their Customers?

National, regional and international companies charter the vessels. Fidelity negotiates charter terms on the company’s behalf.

Customers above 10% of revenue, FY2025
of revenue from four customers (32%, 20%, 17%, 13%)
FY2023: 83% from four customers

Do Revenues Turn Into Profits?

Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.

Operating income, FY2025
27% of revenue
▼ −31% vs FY2024 ($62.6M, 37%)
Net income, FY2025
13% of revenue
▼ −51% vs FY2024 ($43.5M, 26%)
Free cash flow, FY2025
11% of revenue
▲ +268% vs FY2024 ($4.6M, 3%)

How Are They Changing?

Flat. Revenue was $158.1M in FY2025, about the same as the $153.1M of FY2021.

Fleet broadening The older report described an operating fleet of Capesize vessels; the latest report also lists Newcastlemax vessels and vessels under construction.

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