Seanergy: Fleet Growth Bets Big On Steel Demand

Seanergy Maritime Holdings is rated a Buy, driven by strong TCE growth and a robust newbuilding pipeline extending operational visibility. SHIP's fleet expansion to 26 vessels by 2029 positions it to capture rising dry bulk demand, especially from sustained Chinese steel and iron ore imports. Q2'26 revenue surged 48.6% YoY to $55.69M, with a 69% EBITDA margin and 97% vessel utilization, underscoring operational efficiency and growth.