Seanergy Maritime Holdings Corp.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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Jun 30, 2025 · Filed Aug 7, 2025
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Contents
EX-99.2 · Commitments
Commitments
The Company operates certain of its vessels under lease agreements. Time charters typically may provide for charterers’ options to extend the lease terms and termination clauses. The Company’s time charters range from 11 to 60 months. In addition, the time charters contain termination clauses which protect either the Company or the charterers from material adverse events. Variable lease payments in the Company’s time charters vary based on changes on freight market index. The Company has the option to convert some of these variable lease payments to fixed based on the prevailing Capesize forward freight agreement rates.
The following table sets forth the Company’s future minimum contractual charter revenue based on vessels committed to non-cancelable time charter contracts as at June 30, 2025. For index-linked time charter contracts the calculation was made using the initial charter rates (these amounts do not include any assumed off-hire).
| Twelve month periods ending June 30, | Amount |
|---|---|
| 2026 | 113,283 |
| 2027 | 16,689 |
| Total | 129,972 |
The office rent expense for the periods ended June 30, 2025 and 2024 was $84 and $82, respectively.
The following table sets forth the Company’s undiscounted office rental obligations as at June 30, 2025:
| Twelve month periods ending June 30, | Amount |
|---|---|
| 2026 | 141 |
| 2027 | 141 |
| 2028 | 105 |
| Total | 387 |
| Less: imputed interest | (122) |
| Present value of lease liabilities | 265 |
| Operating lease liability, current | 102 |
| Operating lease liability, non-current | 163 |
| Present value of lease liabilities | 265 |
| 11. | Capital Structure: |
Details of the Company’s common stock and warrants are discussed in Note 12 of the consolidated financial statements for the year ended December 31, 2024, included in the Company’s 2024 Annual Report on Form 20-F filed with the SEC on March 21, 2025 and are supplemented by the below new activities into the six-month period.
| (a) | Common Stock |
|---|
| i) | Dividends |
|---|
On May 26, 2025, the Company declared a regular quarterly cash dividend of $0.05 per share for the first quarter of 2025, to all shareholders of record as of June 27, 2025. The dividends amounting to $1,045 were paid on July 10, 2025 (Note 16) and are included in “Other current liabilities” as of June 30, 2025 in the unaudited interim condensed consolidated balance sheets.
On March 5, 2025, the Company declared a regular quarterly dividend of $0.10 per share for the fourth quarter of 2024, to all shareholders of record as of March 27, 2025. The dividends amounting to $2,090 were paid on April 10, 2025.
On January 10, 2025, the Company paid a regular quarterly dividend of $0.26 per share or $5,297 for the third quarter of 2024 to all shareholders of record as of December 27, 2024.
Total dividends declared in the six-month period ended June 30, 2025, amounted to $3,135.
| (b) | Warrants |
|---|
All warrants are classified in equity, according to the Company’ssignificant accounting policy.
Class E Warrants
As of June 30, 2025, the number of remaining Class E Warrants outstanding is 2,694,599 at an exercise price of $4.03 per share. As of June 30, 2025, the number of common shares that can potentially be issued under the outstanding Class E warrants are 269,459.
Class D Warrants
The Company’s previously issued Class D Warrants expired according to their terms on April 2, 2025.
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