Seanergy Maritime Holdings Corp. entered into a 12-month bareboat charter agreement with an unaffiliated third party in Japan for a 2011-built Newcastlemax dry bulk vessel of 207,855 dwt built at Nantong COSCO KHI Ship Engineering Co Ltd. (NACKS). Pursuant to the terms of the bareboat charter, Seanergy has advanced a down payment of $3.5 million and will pay an additional $3.5 million on delivery of the vessel to the Company, as well as a daily bareboat rate of $9,000 over the charter period.

Delivery is estimated to take place between August and December 2023 while at the end of the 12-month bareboat period, Seanergy has an option to purchase the Vessel for $20.2 million.