Seanergy Maritime Holdings Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Earnings and Operating Results for the Nine Months Ended September 30, 2014
January 15, 2015 at 09:02 pm
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Seanergy Maritime Holdings Corp. reported unaudited consolidated earnings results for the third quarter and earnings and operating results for the nine months ended September 30, 2014. For the quarter, the company's operating loss was $1,145,000 against income of $18,820,000 a year ago. Net loss was $1,142,000 or $0.08 basic and diluted per share against net income of $17,138,000 or $1.43 basic and diluted per share a year ago.
For the nine months, the company's vessel revenue, net was $2,010,000 against $16,749,000 a year ago. Operating income was $82,812,000 against $10,148,000 a year ago. Net income was $81,604,000 or $6.46 basic and diluted per share against $3,436,000 or $0.29 basic and diluted per share a year ago.
For the nine months, the company's average number of vessels was 1.0 against 7.0 a year ago. Ownership days was 268 against 1,907 a year ago. Available days was 268 against 1,850 a year ago. Operating days was 142 against 1,491 a year ago. Fleet utilization was 78.2% against 88.1% a year ago. Fleet utilization excluding drydocking off-hire days was 80.6% against 89.3% a year ago.
Seanergy Maritime Holdings Corp. is an international shipping company. The Company provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. It owns a modern fleet of seventeen dry bulk carriers, consisting of seventeen Capesizes, with a combined cargo-carrying capacity of approximately 3,011,083 deadweight tonnages (dwt) and an average fleet age of about 11.7 years. Its fleet comprises vessels, including Flagship, Worldship, Gloriuship, Geniuship, Premiership, Squireship, Championship, Lordship, Goodship, and Hellaship, among others. The Company's subsidiaries, which are all, owned by it either directly or indirectly, conduct all of its operations and own all of its operating assets. The Company manages its vessel's operations, insurances and bunkering, and has the general supervision of its third-party technical and commercial managers. V.Ships Limited, which is an independent third party, provides technical management for its vessels.
Seanergy Maritime Holdings Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Earnings and Operating Results for the Nine Months Ended September 30, 2014