Seanergy Maritime Holdings Corp ( (SHIP) ) has released its Q4 earnings. Here is a breakdown of the information Seanergy Maritime Holdings Corp presented to its investors.
Seanergy Maritime Holdings Corp. is a leading company in the maritime industry, specializing in the transportation of dry bulk cargo through its fleet of Capesize vessels. Based in Greece, the company operates a modern fleet with a focus on the Capesize segment, which is known for its large cargo capacity and efficiency in transporting bulk commodities such as iron ore and coal.
In its latest earnings report, Seanergy Maritime Holdings Corp. announced record profitability for the year ending December 31, 2024. The company reported a significant increase in net revenues, reaching $167.5 million, a 52% rise compared to the previous year. This strong financial performance was complemented by a net income of $43.5 million, marking a substantial improvement from the $2.3 million reported in 2023.
Key financial highlights include an 81% increase in EBITDA to $92.6 million and a remarkable rise in earnings per share, which soared by 1,667% to $2.12. The company’s fleet TCE rate also outperformed the Baltic Capesize Index, highlighting its strategic focus on efficient operations and market positioning. Additionally, Seanergy declared a quarterly cash dividend of $0.10 per share and executed stock buybacks, further enhancing shareholder value.
Looking ahead, Seanergy Maritime Holdings Corp. remains optimistic about the Capesize market’s long-term prospects. The company anticipates a stronger market in the latter half of 2025, driven by favorable supply-demand dynamics and strategic fleet expansions. With a disciplined commercial strategy and a focus on shareholder returns, Seanergy is well-positioned to capitalize on market opportunities and deliver consistent performance.