Seanergy Maritime Holdings Corp., Athens, has entered into an agreement with Constellation Bulk Energy Holdings, Inc. to acquire seller's 50% ownership interest in Bulk Energy Transport (Holdings) Limited ("BET").
The remaining 50% of BET is owned and will remain under the ownership of affiliates of the Restis family. BET is a provider of worldwide ocean transportation services through the ownership of a fleet of five dry bulk carrier vessels. Its current fleet is comprised of four Capesize and one Panamax dry bulk carriers with a cargo-carrying capacity of 726,620 dwt and an average fleet age of approximately 16 years.
As a result of the acquisition, the size of Seanergy Maritime's fleet will increase to 11 dry bulk vessels with a carry capacity of approximately 1,043,296 dwt and an average fleet age of 13 years comprising of four Capesize, three Panamax, two Supramax and two Handysize dry bulk carriers. The acquisition is subject to lenders’ approval.