Navios Partners announces $22.0 million acquisition of two 2006 - built Panamax vessels
Navios Maritime Partners L.P. ("Navios Partners") , an international owner and operator of drybulk and container vessels, has agreed to acquire two 2006 - built Panamax vessels with a capacity of approximately 74,500 dwt each, for a total purchase price of $ 22.0 million, the company said in its press release.
The vessels are expected to be delivered to Navios Partners' owned fleet within Q1 2018. Based on the existing charters of the vessels ($9,375 net per day until May/Nov ember 2018 and $9,844 until March/A ugust 2018 , respectively) and the current rate environment (Clarksons’ 1 - year time charter rate for Panamax vessels as of January 19, 2018), the vessels are expected to generate approximately $4.8 million of EBITDA for the first year, assuming midpoint of redelivery from charterers, operating expenses approximating current operating costs and 360 revenue days.
Navios Partners is expected to finance the acquisition with cash on its balance sheet and $14.3 million bank debt maturing in 2023 and bear ing interest at LIBOR plus 300 bps per annum. Following this acquisit ion, Navios Partners controls 38 vessels.
About Navios Maritime Partners L.P.
Navios Partners is a publicly traded master limited partnership which owns and operates container and dry bulk vessels.
