Dry bulk shipping company Seanergy Maritime Holdings Corporation has posted its financial results for the first half and the second quarter of 2026.
The company achieved record Q2 and H1 profit of US$26.2 million and US$35.9 million, respectively, up from US$2.9 million net income and US$0.4 million loss in the prior-year periods.
Total capital of US$108.4 million was returned to shareholders, comprising US$63.2 million of cash dividends (US$3.19 per share) and US$45.2 million of share, warrant and convertible note repurchases.
Gross operating profit and adjusted gross operating profit for Q2 reached US$39.3 million and US$41.5 million, respectively, compared to US$17.4 million and US$18.3 million, respectively, for the same period of 2025.
For the six months ended June 30, 2026, Seanergy generated net revenues of US$97.8 million, net income of US$35.9 million and adjusted net income of US$42 million, compared to net revenues of US$61.7 million, a net loss of US$4 million and adjusted net loss of US$1.7 million in the first half of 2025.
Adjusted gross operating profit increased by 165 per cent to US$69.6 million, while adjusted earnings per share reached US$1.96, compared to an adjusted loss per share of US$0.09 in the prior-year period. Fleet TCE increased by 69 per cent to $28,244 per day.
"The Capesize market continued to perform strongly during the second quarter, supported by record quarterly China iron ore imports and continued growth in bauxite trade against low fleet supply growth," said Stamatis Tsantanis, Seanergy's Chairman and Chief Executive Officer.
"Looking ahead, the market outlook remains constructive: a low orderbook against a rapidly ageing fleet, strong iron ore export growth, and resilient coal and bauxite volumes. In this context, we have fixed about 55 per cent of our ownership days for the second half of the year at a daily rate of US$30,800, providing significant earnings visibility while preserving meaningful index-linked exposure in a strong Capesize market.
"Additionally, based on the current FFA curve, our estimated Q3 2026 daily TCE of approximately US$31,000 further reinforces our positive earnings outlook and our ability to continue generating attractive returns in the quarters ahead."