Navios Containers announces acquisition of three containerships
Navios Maritime Containers Inc. (the “Company” or “Navios Containers”), a growth vehicle dedicated to the container sector, agreed to acquire three containerships for a total purchase price of $117.25 million, the Company said in its news release.
Navios Containers agreed to acquire two 8,204 TEU containerships, the YM Utmost and the YMUnity, for $67.0 million from Navios Maritime Partners L.P. (“Navios Partners”). The two vessels arechartered out at a net daily charter rate of $34,266 until August 2018 and October 2018, respectively.The acquisition of the YM Utmost and the YM Unity was unanimously approved by the SpecialCommittee of the independent members of the Board of Directors of Navios Containers.Navios Containers agreed to acquire one 10,000 TEU containership for $50.25 million from a thirdparty.
The vessel is time chartered out at a net daily charter rate of $26,663 until March 2019.The Company expects to take delivery of all three vessels in the second quarter of 2018.Based on their existing charters and the current rate environment, the containerships are expected togenerate approximately $18.7 million of aggregate EBITDA over the next twelve months.
Navios Containers is expected to finance the acquisitions with cash on its balance sheet andapproximately $61.0 million of new bank debt.
Following this acquisition, Navios Containers will own 25 vessels, totaling 119,538 TEU with anaverage age of 10.1 years.
About Navios Maritime Containers Inc.
Navios Maritime Containers Inc. is a growth vehicle dedicated to the container sector of the maritimeindustry.