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Seanergy Maritime Holdings Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2021
Seanergy Maritime Holdings Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2021 Highlights of the Second Quarter of 2021:
About this update from Seanergy Maritime Holdings Corp.
[{"type":"text","content":"Seanergy Maritime Holdings Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2021 Highlights of the Second Quarter of 2021: Gross revenues: $28.9 million in Q2 2021 compared to $9.3 million in Q2 2020, up 209%Net income: $2.0 million in Q2 2021, as compared to a net loss of $11.3 million in Q2 2020EBITDA1: $10.8 million in Q2 2021, as compared to negative $2.1 million in Q2 2020Adjusted EBITDA1: $11.3 million in Q2 2021, as compared to negative $1.8 million in Q2 2020 Highlights of First Six Months of 2021: Gross revenues: $50.0 million in 6M 2021 compared to $23.1 million in 6M 2020, up 116%Net income: $0.6 million in 6M 2021, as compared to a net loss of $19.6 million in 6M 2020 EBITDA1: $17.3 million in 6M 2021 as compared to negative $1.1 million in 6M 2020Adjusted EBITDA1: $19.2 6M 2021, as compared to negative $0.5 million in 6M 2020 Second Quarter of 2021 and Recent Developments: Fleet increase by 45% with the delivery of 5 modern Japanese CapesizesFleet modernization through substitution of the fleet’s oldest Capesize with an eight year younger vesselNew time charter agreements with prominent charterersFinancing and refinancing transactions of $117.3 million including a $30.9 million sale and leaseback & new loan commitment July 29, 2021 - Athens, Greece - Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today its financial results for the second quarter ended June 30, 2021. For the quarter ended June 30, 2021, the Company generated gross revenues of $28.9 million, a 209% increase compared to the second quarter of 2020. Adjusted EBITDA for the quarter was $11.3 million, from negative $1.8 million in the same period of 2020. Net income for the second quarter was $2.0 million compared to net loss of $11.3 million in the second quarter of 2020. The daily Time Charter Equivalent (“TCE”)1 of the fleet for the second quarter of 2021 was $20,095, marking a 270% increase compared $5,424 for the second quarter of 2020. For the six-month period ended June 30, 2021, gross revenues were $50.0 million, increased by 116% when compared to $23.1 million in same period of 2020. Adjusted EBITDA for the first six months of 2021 was $19.2 million, compared to a negative adjusted EBITDA of $0.5 million in the same period of 2020. The daily TCE of the fleet for the first six months ...