Navios Maritime News

09 Jan 2020

NMM Acquires Five Containerships

File Image: Navios Maritime Containers

Greek owner and operator of dry cargo vessels Navios Maritime Partners has taken delivery of five containerships upon the liquidation of Navios Europe.The five vessels comprise three Sub-Panamaxes and two Panamaxes, has been acquired for about USD 52 million.The vessels - 2,007 TEU Esperanza N, the 2,741 TEU Protostar N, the 2,824 TEU Harmony N, the 3,091 TEU Castor N and the 3,398 TEU Solar N - were built between 2006 and 2008.Navios Partners received approximately $49.6 million in satisfaction of its receivable from Navios Europe I.Separately…

26 Nov 2019

NMP Acquires Eleven Vessels

Image: Navios Maritime Partners

Navios Maritime Partners (NMP) s agreed to acquire eleven vessels and liquidate Navios Europe I.As of September 30, 2019, Navios Partners had a receivable of $48.2 million from Navios Europe I. On November 22, 2019, an agreement was reached to liquidate Navios Europe I. The agreement is subject to definitive documentation which is expected to be completed by the end of 2019.It is expected that Navios Partners will acquire the five containerships - Esperanza N, Protostar N, Harmony N…

26 Nov 2019

NMAC Acquires 5 Product Tankers

Image: Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation (NMAC), a Greece owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I Inc.On November 22, 2019, an agreement was reached to liquidate Navios Europe I. As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the Acquisition. The agreement is subject to definitive…

07 Nov 2019

Navios Acquisition Fleet Reaches 41

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition. File Photo: Navios

Navios Maritime Acquisition Corporation, the provider of transportation of petroleum products (clean and dirty) and bulk liquid chemicals, announced that its fleet consisted of a total of 41 vessels as of November 7, 2019.The owner and operator of tanker vessels said that out of 41 vessels, 13 are very large crude carriers (VLCCs) (including three bareboat chartered-in VLCCs expected to be delivered in the third and fourth quarters of 2020 and the third quarter of 2021), 26 are product tankers…

22 Oct 2019

Navios Repays $198mln Debt Early

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition. Photo: Navios

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced the repayment of its Term Loan B on October 18, 2019.The tanker shipping company said that the outstanding balance of the Term Loan B was USD 196.8 million at June 30, 2019 and was repayable in June 2020.Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “We are pleased with the repayment of the Term Loan B as we devoted a great deal of effort to achieving this result.

16 Oct 2019

Navios Maritime Repays $419Mln Loan

Pic: Navios Maritime Partners L.P

Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, managed to repay a major loan amounting to USD 418.5 million by combining three types of refinancing.Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “We are pleased with the refinancing of the Term Loan B as we devoted a great deal of effort to achieving this result. Through a combination of cash, commercial bank debt and sale and leaseback transactions, we…

05 Sep 2019

Navios Maritime Holdings Buys Vessels

Pic: Navios Maritime Holdings

The seaborne shipping and logistics company Navios Maritime Holdings took delivery of the Navios Herakles I, a newbuilt bareboat chartered-in Kamsarmax of 81,600 dwt.The dry bulk owner has also acquired from an unrelated third party, a previously chartered-in vessel, the Navios Victory, a 2014-built, 77,095 dwt vessel, for a total acquisition price of $14.5 million, which was paid in cash.From the beginning of 2017 through 2019 YTD, Navios Holdings has decreased by 26% the average age of its owned fleet including long-term bareboat chartered-in vessels.In July 2019…

31 Aug 2019

Navios Sells Ship Management Division

Pic: Navios

The Greek seaborne shipping and logistics company Navios Maritime Holdings sold its ship management division and certain general partnership interests to N Shipmanagement Acquisition Corp. (NSAC), affiliated with company’s chairman and chief executive officer, Angeliki Frangou.The provider of transport and transshipment of drybulk commodities received aggregate consideration of $20.0 million (including assumption of liabilities) and new five-year service agreements under which NSAC will provide technical and commercial management services at fixed rates and administrative services…

22 Aug 2019

Navios Sells 2002-Built VLCC

Image: Navios Maritime Acquisition Corporation

Greek tanker vessel operator Navios Maritime Acquisition Corporation has entered into an agreement to sell the Nave Electron, a 2002-built  very large crude carriers (VLCC) vessel of 305,178 dwt to an unaffiliated third party for a sale price of $25.3 million.The Pireas-headquartered said that the vessel is expected to be delivered to its new owners in September 2019.As of August 20, 2019, Navios Acquisition’s fleet consisted of a total of 41 vessels, of which 13 are VLCCs (excluding…

12 Jul 2019

Navios Containers Appoints Tsironi CFO

Erifili Tsironi (Photo: Navios Containers)

Navios Maritime Containers L.P. (NASDAQ: NMCI) appointed Erifili Tsironi as Chief Financial Officer of Navios Containers. Tsironi previously served as Co-Chief Financial Officer of Navios Maritime Acquisition Corporation since December of 2018 and as Chief Financial Officer of Navios Maritime Midstream Partners L.P. from its inception in 2014 until December 2018.She has more than 17 years of experience in banking focusing on ship finance. Before joining Navios Maritime Midstream Partners L.P., she was Global Dry Bulk Sector Coordinator and Senior Vice President at DVB Bank SE. Mrs.

28 May 2019

Navios Holdings Acquires Sea Victory

File Pic: Navios

The seaborne shipping and logistics company Navios Maritime Holdings agreed to acquire a former chartered-in vessel, the Sea Victory (TBN Navios Victory), a 2014-built Panamax vessel of 77,095 dwt, for a purchase price of $14.5 million.The acquisition is expected to be completed in Q3 2019, said the shipping firm focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.Navios sold to an unrelated third party the Navios Equator Prosper…

13 May 2019

Navios Maritime Orders VLCC Newbuilding

Pic: Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation said that it has  exercised its option for a third VLCC newbuilding under a bareboat operating lease with an expected delivery in the third quarter of 2021.Navios Acquisition has agreed to the main terms of a 12-year bareboat charter-in agreement with de-escalating purchase options for one newbuild Japanese VLCC.The bareboat charter-in agreement reflects an implied price of approximately $84.5 million and an annual effective interest of approximately 6% fixed for the duration of the agreement.On March 25, 2019, Navios Acquisition sold the C.

25 Apr 2019

Navios Takes Delivery of 10,000 TEU Boxship

Navios Maritime Containers announced that it took delivery of a 2011-built 10,000 TEU containership on April 23, 2019. As previously announced, the containership was acquired from an unrelated party for a purchase price of $52.5 million.The vessel is chartered out at a net rate of (i) $26,325 per day until November 2020 and thereafter (ii) $27,300 per day until October 2021.The acquisition of the containership was financed with: (i) a loan of $31.1 million from a commercial bank maturing in July 2023 and bearing interest at LIBOR plus 325 bps per annum, (ii) a $15.0 million credit by the seller for a period until January 2020 at a rate of 5.0% per annum and (iii) cash on the balance sheet.Navios Containers owns 30 containerships…

17 Apr 2019

Navios Maritime Discloses Sale, Leaseback Deals

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has completed a $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers. The proceeds have been used to refinance $82.4 million of bank debt.The Transaction provides for 28 quarterly payments of $2.3 million each plus interest at LIBOR plus 350 bps per annum. Navios Acquisition has an obligation to purchase the vessels at the end of seventh year for $39.7 million. Navios Acquisition has no further maturities on its credit facilities for the next 14 months.

01 Apr 2019

Navios Acquisition Disposes Oldest VLCC

Pic: Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation, an international shipping company, said that it  has sold the oldest vessel of its fleet, the C. Dream.According to a press release from the US-listed, Greece-based company, the 299,000-dwt very large crude carrier (VLCC) C. Dream (built 2000) is sold for $21.75m.The 323,967 cbm vessel, with a length of 332 meters and a width of 60 meters, was built in Hitachi shipyard in Japan.Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.

21 Feb 2019

Navios Sells Handymax

File Photo: Navios Maritime

Navios Maritime Holdings, a global, vertically integrated seaborne shipping and logistics company, said that it has sold its 2002-built Ultra Handymax vessel Navios Meridian.The 50,316 dwt Navios Meridian was sold to an unnamed buyer recently for a total net sale price of USD 6.8 million.Navios Holdings controls a fleet of 65 vessels totaling 6.6 million dwt, of which 35 are owned and 30 are chartered-in under long-term charters (collectively, the "Core Fleet"). The fleet consists of 19 Capesize…

20 Feb 2019

Navios Names Two Directors

File Pic: Navios Maritime Containers

Monaco-based seaborne shipping company Navios Maritime Containers  announced the appointment of Stefan Kuch and Vasilios Mouyis to its Board of Directors.The owner and operator of container ships informed that Kuch has over 32 years of experience in finance and ship finance, having served in senior leadership positions in the shipping division of Commerzbank AG, one of Germany’s leading financial institutions.He also served as Managing Director of Hanseatic Ship Asset Management GmbH, a vessel-owning company within the Commerzbank Group.

19 Feb 2019

Navios Appoints Alexander Kalafatides as Director

File Pic: Navios

The dry cargo vessel player Navios Maritime Partners announced the appointment of Mr. Alexander Kalafatides to its Board of Directors.The international owner and operator of dry bulk and container vessels said in a press release that Kalafatides has nearly 30 years of experience in general management and marketing.Kalafatides also serves as an adjunct professor in International Business at Drexel University. Kalafatides served in the Board of Directors of Navios Maritime Midstream Partners L.P. from 2014 to 2018.Kalafatides received his M.B.A.

31 Jan 2019

Navios Containers Updates on Fleet

File Photo: Navios Maritime Containers Inc.

Monaco-based container shipping company Navios Maritime Containers has exercised an option to acquire a 2011-built 10,000 TEU containership from an unrelated third party for a purchase price of $52.5 million.The containership is chartered out at a net rate of $26,325 per day until November 2020 and $27,300 per day until October 2021, and is expected to be delivered in the first quarter of 2019.Navios Containers also entered into an agreement where it has the option to acquire one 2011-built 10…

25 Jan 2019

Navios Maritime Containers Adds to Fleet

Pic: Navios Maritime Containers

Monaco-based seaborne shipping company Navios Maritime Containers has acquired a 2011-built containership from an unrelated party for USD 52.5 million.The containership is expected to be delivered into Navios Containers’ fleet in Q1 2019 and is chartered out at a net rate of  $26,325 per day until November 2020 and thereafter  $27,300 per day until October 2021. The containership is expected to generate approximately $9.5 million of revenue and $6.5 million of EBITDA(1) in the…

19 Dec 2018

Navios Maritime Containers Adds Two Boxships

File Photo: Navios Maritime Containers

The owner and operator of containerships Navios Maritime Containers announced that it took delivery of the Bahamas and the Bermuda, two 2010-built 4,360 TEU containerships on December 7, 2018 and December 17, 2018, respectively.As previously announced, the containerships were acquired for a total purchase price of $23.6 million, said a company release.The acquisition of the vessels was financed with cash on the balance sheet and from a new $50.0 million loan from a commercial bank that has also refinanced the company’s credit facilities maturing in the fourth quarter of 2019.

14 Dec 2018

Navios Acquisition Completes Navios Midstream Merger

Pic: Navios

Greece-based Navios Maritime Acquisition Corporation announced that it completed the acquisition of Navios Maritime Midstream Partners. "Following the close of the market on December 13, Navios Midstream common units no longer are publicly traded on the New York Stock Exchange," said a press release from the owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.Angeliki Frangou, Chairman and Chief Executive Officer…

05 Dec 2018

Navios Maritime Acquires Box Ships

Pic: Navios Maritime Containers

Monaco-based container shipping company Navios Maritime Containers  announced that it agreed to acquire two 2010-built, 4,360 TEU containerships for $23.6 million from an unrelated third party.The two containerships are expected to be delivered in the fourth quarter of 2018, said the vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commoditiesNavios Containers also agreed to acquire two 2011-built 10,000 TEU containerships from an unrelated third party for a purchase price of approximately $52.5 million each…

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