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Seanergy Maritime Holdings Corp. Reports Record Financial Results for the Third Quarter and Nine-Month Period Ended September 30, 2021
Seanergy Maritime Holdings Corp. Reports Record Financial Results for the Third Quarter and Nine-Month Period Ended September 30, 2021 Highlights of the Third
About this update from Seanergy Maritime Holdings Corp.
[{"type":"text","content":"Seanergy Maritime Holdings Corp. Reports Record Financial Results for the Third Quarter and Nine-Month Period Ended September 30, 2021 Highlights of the Third Quarter of 2021: Gross revenues: $50 million in Q3 2021, as compared to $20.4 million in Q3 2020, up 146% Net Income: $20.1 million in Q3 2021, as compared to $3.6 million in Q3 2020, up 459%EBITDA1: $30.1 million in Q3 2021, as compared to $12.7 million in Q3 2020, up 137%Adjusted EBITDA1: $32.2 million in Q3 2021, as compared to $7.8 million in Q3 2020, up 312% Highlights of the Nine Months ended September 30, 2021: Gross revenues: $100 million in 9M 2021, as compared to $43.5 million in 9M 2020, up 130% Net Income: $20.7 million in 9M 2021, as compared to a net loss of $16 million in 9M 2020EBITDA1: $47.4 million in 9M 2021, as compared to $11.6 million in 9M 2020, up 307%Adjusted EBITDA1: $51.4 million in 9M 2021, as compared to $7.3 million in 9M 2020, up 602% First Nine Months of 2021 and Recent Developments: Acquisition of 7 modern Japanese Capesizes and sale of our oldest vessel in 2021 to date, representing total investment of $193.2 million and fleet increase of 55%Ten new time-charter employment agreements with world-renowned charterers100% of the fleet employed under time-charters (“T/Cs”), 88% of which at index-linked rates Financing and refinancing transactions of $134.2 million November 2, 2021 - Glyfada, Greece - Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today its financial results for the third quarter ended September 30, 2021. For the quarter ended September 30, 2021, the Company generated gross revenues of $50.0 million, a 146% increase compared to the third quarter of 2020. Adjusted EBITDA for the quarter was $32.2 million, from $7.8 million in the same period of 2020 . Net income for the third quarter was $20.1 million compared to net income of $3.6 million in the third quarter of 2020. The daily Time Charter Equivalent (“TCE”)1 of the fleet for the third quarter of 2021 was $30,764, marking a 90% increase compared to $16,219 for the same period of 2020. For the nine-month period ended September 30, 2021, gross revenues were $100.0 million, increased by 130% when compared to $43.5 million in the same period of 2020. Adjusted EBITDA for the first nine months of 2021 was $51.4 million, compared to an adjusted EBITDA of $7...