Navios Apollon News

Greece-based Navios Maritime Partners announced that the Navios Apollon I, a 2005-built, 87,000 dwt Panamax vessel was delivered on May 9, 2018. As previously announced, the vessel was acquired for a price of $13.0 million, said the international owner and operator of container and dry bulk vessels. Based on the current rate environment (Clarksons’ 1-year time charter rate for Panamax vessels as of May 4, 2018), the vessel is expected to generate approximately $3.2 million of annual EBITDA, assuming operating expenses approximating current operating costs and 360 revenue and cost days. The acquisition of the vessel was financed with cash on the balance sheet.

Somali based pirates continue to cause serious challenges to merchant vessels transiting the Indian Ocean. At the time of writing, EU NAVFOR statistics indicate that there are 26 vessels and 582 crew held captive off the coast of Somalia (not taking into account an unknown number of smaller dhows and fishing vessels that have been seized). Moreover, the International Maritime Bureau (IMB) reported that Somali pirates hijacked 49 vessels in 2010, an increase from 47 in 2009. With the use of hijacked mother ships, Somali pirates proved that they are capable of operating for extended periods of time in areas further out to sea; a trend that has continued in the first months of 2011.

Somali based pirates continue to cause serious challenges to merchant vessels transiting the Indian Ocean.At the time of writing, EU NAVFOR statistics indicate that there are 26 vessels and 582 crew held captive off the coast of Somalia (not taking into account an unknown number of smaller dhows and fishing vessels that have been seized). Moreover, the International Maritime Bureau (IMB) reported that Somali pirates hijacked 49 vessels in 2010, an increase from 47 in 2009. With the use of hijacked mother ships…

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, reported its financial results for the fourth quarter and year ended December 31, 2010. Ms. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "We are pleased to increase our cash distribution per unit for the fourth quarter. Ms. Frangou continued, "Overall, 2010 was a good year for Navios Partners. We grew the asset base substantially by adding 5 new vessels, all with long-term charters. At the same time, we reduced our leverage ratios. The Board of Directors of Navios Partners declared a cash distribution for the fourth quarter of 2010 of $0.43 per unit.

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, reported its financial results for the second quarter and six months ended June 30, 2010. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "I am pleased with our performance during the second quarter. We raised $92.3 million in the equity markets and purchased the Navios Pollux. The acquisition of the Navios Pollux increases the average charter coverage of our fleet to 4.4 years and reduces the average age of our fleet to 5.7 years. Throughout this release, EBITDA for the three and six months ended June 30, 2009 represents net income before interest…

Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally, for assisting in the release process and arranging the Chinese warship Wenzhou to escort the Navios Apollon and crew and providing needed support after this prolonged period in captivity.