Seanergy Maritime Holdings has expanded its fleet of capesize bulkers to 12 vessels, with expectations to make $5m in revenue off the latest acquisition this year and an eye on more of the large ships.

The Stamatis Tsantanis-led owner has bought an undisclosed, 2006-built, 177,000-dwt ship for $17m in cash from an undisclosed buyer that it will rename Tradership.

The Japan-built vessel should be delivered in either the late first quarter or early second quarter, pushing Seanergy's total cargo capacity to 2.1m