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Navios Maritime Partners raising $100m for fleet growth

Navios Maritime Partners has agreed with investors to sell around 47.6 million common units in the master limited partnership for $100 million in a registered direct offering.

Navios Partners said that the offering, at $2.10 per common unit, is expected to close on or about March 20. Fearnley Securities is the sole lead manager.

The offering will provide Navios Partners with around $95 million in net proceeds, which it says will be used for general working capital purposes, including vessel acquisitions.

Navios Partners currently has a fleet of 31 vessels, made up of 24 dry bulk vessels and seven containerships.

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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