Navios Maritime Containers has revealed the refinancing of seven containerships as well as the conversion of a purchase obligation to an option in its latest set of financial results.
The vessel refinancing, sealed last month, sees the company enter into a new credit facility to refinance seven containerships which had an outstanding balance of $36.7m on the previous facility.
Navios Containers also revealed that it has converted the obligation to purchase a 2011-built 10,000 tea containership into an option. The option will expire on March 31, 2020 and adds $3m to the price of the vessel, which is currently chartered out at a net rate of $26,325 per day until July 2021 and $27,300 per day until June 2022.
Announcing the second quarter results, Angeliki Frangou, chairman and CEO, said: “I am pleased with the results for the second quarter of 2019, in which Navios Containers reported $33.7 million in revenue, $12.7 million of EBITDA and around $450,000 of net income.”
Navios Containers currently has a fleet of 29 containerships.