Seanergy Maritime Holdings Corp. Announces New Time Charter Agreements for Three of its Vessels

News Release Seanergy Maritime Holdings Corp June 27, 2011

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June 27, 2011 – Athens Greece – Seanergy Maritime Holdings Corp. (the
“Company”) (NASDAQ:
SHIPD; SHIP.W) announced today that the Company has entered into
new time charter agreements
for one of its Panamax vessels and two of its Capesize
vessels.
The M/V BET Intruder, a 69,235 dwt Panamax dry bulk carrier built
in 1993, has entered into a time
charter agreement for a period of about eleven to about thirteen
months at a gross charter rate of
$12,250 per day. The charter will commence after the completion of
the M/V BET Intruder’s current trip.
Each of the M/V BET Fighter and M/V BET Scouter has entered into a
time charter agreement for a
period of about eleven to about thirteen months at a gross charter
rate linked to the adjusted Time
Charter Average of the Baltic Exchange Capesize Index. Both
charters commenced in June 2011. The
M/V BET Fighter is a 173,149 dwt Capesize dry bulk carrier built
in 1992, and the M/V BET Scouter is a
171,175 dwt Capesize dry bulk carrier built in 1995.
As a result of these new charter party agreements, the Company has
time charter arrangements that
cover its ownership days 90% for 2011, 59% for 2012 and 23% for
2013, based on the latest redelivery
date of the charter party agreements.
Dale Ploughman, the Company’s Chairman and Chief Executive
Officer, stated: ‘‘We are pleased to
announce the period employment of three of our vessels with a
counterparty whom we believe is both
credible and reliable. Since the beginning of 2011 and in the face
of volatile market conditions, we have
increased our employment coverage from 79% to 90% for 2011 and
from 38% to 59% for 2012,
demonstrating our commitment to a fleet employment strategy of
significant time charter coverage with
well-known charterers’’.</DIV></BODY></HTML>