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Seanergy Maritime: Entering Strong Period for Brazilian Iron Ore Exports

International shipping company Seanergy Maritime Holdings Corp. reported second-quarter gross revenue of $28.9 million, a 209% increase compared to the second quarter of 2020. Seanergy said it is entering a strong period for Brazilian iron ore exports and coal prices are at highs.

On market conditions:

“Looking ahead, we are entering the seasonally ‘strong’ period for Brazilian iron ore exports as local miners are ramping up production, supported by favorable weather conditions and ‘clean’ plant maintenance schedules.”

“At the same time coal prices are at the highest level of the last decade resulting in steadily rising seaborne coal volumes – a positive trend that defies the seasonal patterns of the last years.”

“We continue to position our fleet optimally for what we believe to be an unfolding commodities super-cycle, which will underscore the importance of dry bulk shipping and especially that of the Capesize sector in global seaborne trade.”
Source: Dow Jones

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