Capesize owner Seanergy Maritime stayed in the black during the second quarter despite a weaker-than-expected freight market and has maintained its quarterly dividend payment.

Net profit for the three-month period was $700,000 for the Nasdaq-listed owner, down from $5.9m for the second quarter of last year.

But the deficit recorded during in early 2023 means that Seanergy’s net result for the first six months totals a loss of $3.5m,