Navios Maritime Containers pounces for panamax pair

Navios Maritime Containers pounces for panamax pair

Navios Maritime Containers is acquiring two 2009-built 4,250 teu container vessels to take its fleet to a total of 16 vessels.

Navios is paying a total of $19.75m for the pair, and expects to have them delivered into its fleet early November. Once delivered, Navios says they can expect the ships to generate around $1.5m of EBITDA over the next twelve months based on full employment and fixed operating expenses.

Navios says it will finance the deal with cash on hand and bank debt consistent with its existing credit facilities.

The seller of the vessels was not revealed, but are likely from the fleet of Rickmers Group who filed for insolvency in June. Milano, Spirit of Lisbon and Tanja Rickmers all match the build year and size.

Navios Maritime Containers was formed after the acquisition of 14 vessels from Singapore-listed Rickmers Maritime Trust, the deal coming after the trust ran into trouble and decided to liquidate.

 

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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