Dry CargoEurope

Navios Partners takes 36 bulkers from parent for $835m

Navios Maritime Partners is buying the 36-vessel dry bulk fleet from parent Navios Maritime Holdings for $835m, including the assumption of $441.6m of bank liabilities, bareboat obligations and finance leasing obligations.

The 36-vessel dry bulk fleet consists of 26 owned vessels and 10 chartered-in vessels all with purchase options with a total capacity of 3.9m dwt and an average age of 9.6 years. The additions propel Navios Partners to become the second largest fleet of US publicly traded companies.

Navios Partners said the move was part of a migration path to a younger, more carbon efficient fleet supported by opportunistically selling older, less carbon efficient vessels.

Following the completion of the transaction, Navios Partners will own and operate a fleet of 90 drybulk vessels, 49 containerships and 49 tankers, including 22 newbuilding vessels to be delivered through the first quarter of 2025.

Angeliki Frangou is in charge of the Navios empire. She has spent this year bolstering Navios Partners, which has seen Navios Maritime Containers and Navios Maritime Acquisition Company folded into her flagship company.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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