Seanergy Maritime Reports Q1 Upswing Maritime Activity Reports, Inc. May 28, 2026 Source: Seanergy Maritime Seanergy Maritime, a pure-play Capesize shipping company, has reported its Q1 financial results with net revenue of $42.9 million, compared to $24.2 million in the first quarter of 2025. Net income and adjusted net income for the quarter were $9.7 million and $13.4 million, respectively, compared to net loss of $6.8 million and adjusted net loss of $5.5 million in the first quarter of 2025. EBITDA and adjusted EBITDA for the quarter were $23.6 million and $28.1 million, respectively, compared to $6.6 million and $8.0 million, respectively, for the same period of 2025. The fleet achieved a daily time charter equivalent (TCE) of $24,219 for the first quarter of 2026, representing a 6% premium over the average Baltic Capesize Index - 180 (BCI-180) of $22,902 for the same period. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “Seanergy delivered a very strong first quarter, with Adjusted EPS of $0.63 and Adjusted EBITDA of $28.1 million, up 251% year-over-year, demonstrating the earnings power of our pure-play Capesize platform, despite the seasonally weakest period of the year. Reflecting on this performance and our disciplined capital return policy, we are pleased to declare our 18th consecutive quarterly cash dividend of $0.20 per share, bringing cumulative distributions to $2.84 per share since program inception. “We have meaningfully advanced our fleet renewal program, contracting three additional newbuilding vessels at leading shipyards in China and Japan, and agreeing to sell one of our older Capesize vessels at firm second-hand pricing. Since launch, the program now comprises six modern eco-design newbuildings and three older vessel disposals, a significant upgrade to fleet quality, efficiency and long-term earnings capacity. To date, Seanergy has advanced approximately $69 million from internal funds toward our newbuildi