Seanergy Maritime has entered into sale and leaseback agreements with China Huarong Shipping Financial Leasing.
Specifically, the company’s annual report reads:
On March 20, 2025, the Company fully refinanced the outstanding amount of $15.3 million under the facility using the proceeds from the Huarong Squireship Sale and Leaseback and the Huarong Friendship Sale and Leaseback and all securities created in favor of Alpha Bank were irrevocably and unconditionally released. As of December 31, 2024, each of the facilities mentioned above was secured by a first priority mortgage over the respective vessel, general assignments covering the respective vessel’s earnings, charter parties, insurances and requisition compensation, account pledge agreements covering the vessel’s earnings accounts (excluding the Sinopac Loan Facility), technical and commercial managers’ undertakings, pledge agreements covering the shares of the applicable vessel-owning subsidiaries and a corporate guarantee by the Company. The August 2021 Alpha Bank Loan Facility and June 2022 Alpha Bank Loan Facility were also secured by second priority collateral accounts pledge agreements, second preferred ship mortgages and second priority general assignment of the insurances, earnings and requisition compensation. In addition, certain of these loan facilities were secured by specific charterparty assignments, for charterparties exceeding 12 or 13 months in duration and hedging assignment agreements.