Navios Charter out Newbuild Capesize Vessel

MarineLink.com
Friday, September 06, 2013

Navios Maritime Partners L.P., owner and operator of dry cargo vessels, chartered out the Navios Joy, a newbuilding Capesize vessel for three years.

The Navios Joy has been chartered out to an investment grade counterparty for three years at a rate of $19,000 net per day ($20,000 gross). The charterer has been granted an option to extend the charter for two optional years, the first at $22,325 (net) per day and the second at $25,650 (net) per day.

The vessel is expected to generate approximately $4.6 million annual EBITDA or $12.9 million aggregate EBITDA for the three years of the initial charter period. EBITDA estimates assume expenses approximating current operating costs and 360 revenue days per year.

Navios Partners expects the vessel to be delivered within September 2013.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated, "This three-year time charter provides accretive cash flow, well above our cash breakeven levels. As the dry bulk environment improves, we will seek to fix vessels on medium to long term charters."

navios-mlp.com
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Ballast Water System Retrofits for 11 Containerships

Eleven container vessels owned by Bernhard Schulte GmbH & Co. KG, based in Germany, are to be retrofitted with Wärtsilä Aquarius Ballast Water Management Systems (BWMS), Wärtsilä announced today.

Timing in Doubt on Hapag-Lloyd IPO

German container shipping group Hapag-Lloyd has taken further steps in preparation of a stock market listing and has mandated more banks for the move, but it remains

Asia Tankers-VLCC Rates Will See More Volatility

VLCC market to be "hot" in Q4 -VLCC broker. Freight rates for very large crude carriers (VLCCs) face a roller-coaster ride on uncertain cargo volumes and vessel

News

Ailing Crewman Medevaced from Cable Lay Ship off US

A crew member reportedly suffering from a heart attack was air lifted by a U.S. Coast Guard helicopter crew from a cable-laying vessel 80 miles west of Coos Bay, Ore.

3Si Group Launches Offshore Division

3Si Group, whose global portfolio of marine safety products and services covers commercial, leisure and military markets, has announced the formation of 3Si Offshore,

Port Pipavav Berths its Largest Box Ship

APM Terminals Pipavav (Gujarat Pipavav Port Ltd.), a gateway port in western India, has berthed the largest container vessel in the Port Pipavav’s history, the terminal announced today.

Vessels

Port Pipavav Berths its Largest Box Ship

APM Terminals Pipavav (Gujarat Pipavav Port Ltd.), a gateway port in western India, has berthed the largest container vessel in the Port Pipavav’s history, the terminal announced today.

Canadian Frigates Get a Radar Upgrade

German navigation system manufacturer Raytheon Anschütz has completed factory acceptance tests and delivery of 12 sets of navigation radars for the Canadian Navy’s Halifax-class frigates.

Ballast Water System Retrofits for 11 Containerships

Eleven container vessels owned by Bernhard Schulte GmbH & Co. KG, based in Germany, are to be retrofitted with Wärtsilä Aquarius Ballast Water Management Systems (BWMS), Wärtsilä announced today.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1663 sec (6 req/sec)