Seanergy Buys Bulk Energy Shares

15 July 2009 (Last Updated July 15th, 2009 18:30)

Greece-based Seanergy Maritime has signed an agreement with Constellation Bulk Energy Transport to buy a 50% stake in the company. The remaining 50% stake in Bulk Energy will remain under the ownership of the Restis family’s affiliates. The acquisition will increase Seanergy

Greece-based Seanergy Maritime has signed an agreement with Constellation Bulk Energy Transport to buy a 50% stake in the company.

The remaining 50% stake in Bulk Energy will remain under the ownership of the Restis family’s affiliates.

The acquisition will increase Seanergy Maritime’s fleet size to 11 dry bulk vessels, including four Capesize, three Panamax, two Supramax and two Handysize dry bulk carriers with a 1,043,296dwt carry capacity and 13-year average fleet age.

The acquisition is scheduled to close by the end of this month subject to the lenders’ authorisation.

Seanergy Maritime owns and operates dry bulk carriers that are used to transport dry bulk cargo.

Bulk Energy Tranpsort is an ocean transportation services provider that owns five dry bulk carrier vessels.