Navios Maritime Partners picks up another capesize

Navios Maritime Partners picks up another capesize

Navios Maritime Partners had added a fourth dry bulk vessel to the fleet this year, acquiring a eight-year-old Japanese-built capesize for $28.3m.

The vessel is scheduled for delivery by August 2017, and the vessel is expected to generate around $3.7m of annual EBITDA based on current rates.

Navios plans to finance the acquisition with cash on its balance sheet and by using existing credit facilities.

So far this year, Navios Maritime Partners has acquired four bulkers, made up of two panamaxes and two capesizes, spending around $83m. It has also reached an agreement with Singapore’s Rickmers Maritime to acquire the Singapore trust’s entire containership fleet for around $113m.

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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