Navios secures option for containership purchase

New York: Navios Maritime Partners has announced today that it has secured an option to acquire a 2012 South Korean-built 13,100 teu container vessel from an unrelated third party.

Navios has until June 5 to exercise the option priced at $147.8m. The vessel is currently chartered for a 12-year period ending May 2027. The charter rate is $60,275. If the vessel option is exercised Navios  is expected to generate around $18.4m of annual EBITDA, assuming operating expenses remain similar to current operating costs.

Navios also has an option to terminate the charter contract after year seven and said it is likely to finance the acquisition with cash on its balance sheet and bank debt on terms in line with existing credit facilities.

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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