Seanergy Maritime Holdings has made a $205m wager on a worldwide infrastructure building frenzy that it expects will keep iron ore and coal in high demand for years to come.
It has spent that much this year acquiring eight secondhand Japanese-built capesizes to ship these commodities, mostly to China, which makes 56% of the world's steel.
"We thought it was a great opportunity to start investing the capital we had just raised from the market and to create an accretive return for shareholders," chief executive Stamatis Tsantanis told TradeWinds.
