Marine Link
Monday, October 15, 2018

Navios Completes Acquisition of Four Containerships

Maritime Activity Reports, Inc.

December 14, 2017

File Image: Navios

File Image: Navios

 Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced today that it has taken delivery of four 2008-built Panamax containerships. These vessels are employed on charters with a net daily charter rate of $27,156.

 
The charters expire in 2020 and are expected to generate approximately $70.0 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year.
 
Navios Containers previously agreed to acquire the four 2008-built 4,730 TEU containerships for a total purchase price of $96.8 million.
 
Navios Containers financed the acquisition of these vessels with the net proceeds from its recently completed $50.0 million private placement and $50.0 million of additional bank debt it has secured on terms consistent with its existing credit facilities.
 
Following this acquisition, Navios Containers controls 20 vessels, totaling 84,520 TEU with a current average fleet age of 9.8 years.
 
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