Navios Maritime Containers News

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, reimbursed at allocable cost.As a result of the transaction…

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.

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…

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. Kuch was previously a member of the Board of Directors of Navios Maritime Midstream Partners L.P.Mouyis has over 28 years of experience in chartering and ship brokerage.

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 10,000 TEU containership from an unrelated third party for a purchase price of $52.5 million.It has until March 2019 to exercise the option and would expect to take delivery of the containership in the second quarter of 2019.In December 2018…

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 twelve month period following its delivery.Navios Containers will finance the acquisition through  $31.8 million of debt financing (maturing in 2023 and bearing interest at LIBOR plus 325 bps per annum)…

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. Following this refinancing, Navios Containers has no debt maturities until 2022.As previously announced…

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, upon the exercise of its purchase options by January and March 2019…

Navios Maritime Containers Inc. (Navios Containers) took delivery of Navios Miami, a 2009-built, 4,563 TEU containership in the last month.According to a press note from the growth vehicle dedicated to the container sector of the maritime industry the vessel was acquired for a purchase price of $13.9 million.The acquisition of the vessel was financed with cash on the balance sheet and a new $9.0 million term loan facility. The facility has an amortization profile of 7 years, matures in September 2023 and bears interest at LIBOR plus 300 bps per annum.Fleet capacity has grown from 21 to 26 vessels  totaling 124,101 TEU since the end of 2017, representing a fleet capacity growth of 40% during the period.The current average age of the fleet is 10.5 years.

Navios Maritime Containers  announced that it took delivery of the Navios Miami, a 2009-built, 4,563 TEU containership on September 12, 2018. As previously announced, the vessel was acquired for a price of $13.9 million.According to a press release from the containership firm,  the vessel is chartered out at a net rate of $11,791 per day until December 2018.The vessel is expected to generate approximately $1.9 million of EBITDA for the first year, assuming (a) revenue based on the contracted time charter rate through the charter expiration date and the current rate per open day thereafter (Clarksons Research 6-12 month time charter rate for 4…

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it agreed to acquire a 2009-built, 4,563 TEU containership for $13.9 million from an unrelated third party.The vessel is expected to be delivered in Q3/Q4 2018.Based on the current rate environment (Clarksons Research 6-12 month time charter rate for 4,400 TEU vessels of $12,800 per day for July 2018) the vessel is expected to generate approximately $2.1 million of EBITDA over the next twelve months, based on operating expenses in line with the management agreement and normal operations.Navios Containers is expected to finance the acquisition with cash on its balance sheet and $9.0 million of additional bank debt on terms consistent with its existing credit facilities.Following the acquisition…

Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering. The information of IPO was originally provided by the IPO investment manager Renaissance Capital. The Navios Holdings company run by Angeliki Frangou was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. According to the company website: "We are a growth-oriented international owner and operator of containerships. We were formed in April 2017 by Navios Holdings, which owns, operates or manages one of the largest shipping fleets by capacity, to take advantage of acquisition and chartering opportunities in the container shipping sector. It plans to list on the Nasdaq but has not disclosed a symbol. J.P.

Navios Maritime Partners, an international owner and operator of container and dry bulk vessels, announced that it has agreed to sell the Hyundai Hongkong, a 2006-built, 6,800 TEU containership for a total net sale price of $36.0 million to the group company Navios Maritime Containers. The vessel is chartered out at a weighted average net daily charter rate of $28,523 until December 2023. Navios Containers is expected to finance the acquisition with additional borrowings of approximately $15.0 million under a new loan from a commercial bank (on terms consistent with existing credit facilities). The vessel is expected to be delivered to Navios Containers in the third quarter of 2018.

Navios Maritime Containers announced that it has agreed to acquire five containerships for a total purchase price of $246.0 million. The Company expects to take delivery of all five vessels in the third quarter of 2018. Based on existing charters and the current rate environment, the five containerships are expected to generate approximately $35.3 million of aggregate EBITDA over the next twelve months. Navios Containers also acquired options for an additional four containerships for a purchase price of $36.0 million per vessel. "All of the acquisitions are subject to certain conditions, and there can be no assurances that these acquisitions will occur in whole or in part.

Navios Maritime Containers announced that it took delivery of the Navios Unison, a 2010-built, 10,000 TEU containership on May 30, 2018. As previously announced, the vessel was acquired for a price of $50.25 million. The vessel is chartered out at a net rate of $26,663 per day until March 2019. The vessel is expected to generate approximately $6.8 million of EBITDA for the first year, assuming (a) revenue based on contracted time charter rate through the charter expiration date and same rate per open day thereafter and (b) operating expenses in line with the management agreement and normal operations. The acquisition of the vessel was financed with cash on the balance sheet and a $25.0 million term loan facility.

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced  that it agreed to acquire three containerships for a total purchase price of $117.25 million. Navios Containers agreed to acquire two 8,204 TEU containerships, the YM Utmost and the YM Unity, for $67.0 million from Navios Maritime Partners. The two vessels are chartered 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 Special Committee 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 third party.

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced  that it has already completed a private placement of common shares, totaling $30.0 million, which is expected to close on March 13, 2018. Navios Containers will issue approximately 5,450,000 common shares at a subscription price of $5.50 per common share for an aggregate of $30.0 million of gross proceeds. The net proceeds will be used for general corporate purposes, including vessel acquisitions. Navios Maritime Holdings and Navios Maritime Partners have subscribed for $15.0 million in the private placement and thus will own approximately 39% of the outstanding share capital upon closing.

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it agreed to acquire a 2010-built, 4,250 TEU containership for $11.78 million.    The acquisition is subject to a number of conditions, and no assurance can be provided that the acquisition will close.    The vessel is expected to be delivered in Q1 2018. Navios Containers expects to finance the acquisition with cash on its balance sheet and $6.0 million from an existing credit facility.   Following the acquisition, Navios Containers will own 22 vessels, totaling 93,130 TEU, with a current average fleet age of 9.8 years. Navios Containers has chartered-out 56.5% of its available days for 2018 and 18.7% of its available days for 2019.

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017. Navios Containers financed the acquisition of the vessel with cash on its balance sheet and $6.0 million of bank debt under one of its existing credit facilities. Following this acquisition, Navios Containers controls 21 vessels, totaling 88,820 TEU. Last month, the company took delivery of four 2008-built Panamax containerships. These vessels are employed on charters with a net daily charter rate of $27,156.

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…

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced today that it has taken delivery of APL Denver, the first of four 2008-built Panamax containerships with period charters it has agreed to acquire. The remaining three vessels are expected to be delivered by mid-December. Navios Containers agreed to acquire the four 2008 built 4,730 TEU containerships for a total purchase price of $96.8 million. 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 Maritime Containers, a growth vehicle dedicated to the container sector, announced today that it has agreed to acquire two 2009-built 4,250 TEU container vessels for an aggregate purchase price of $19.75 million. The vessels are expected to be delivered to Navios Containers’ fleet in early November 2017. Based on the current rate environment, the vessels are expected to generate approximately $1.5 million of EBITDA over the next twelve months, based on fixed operating expenses and 360 revenue days. Navios Containers is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

The Marshall Islands-based shipping company Navios Maritime Containers has closed the acquisition of the remaining four container vessels and as a result has completed the acquisition of the entire 14 container vessels fleet. Navios Containers acquired the 14 vessels for a total purchase price of $118.0 million plus certain delivery and other operating costs. The Fleet was partially financed through two loan facilities of $61.0 million in aggregate, including a previously announced $40.0 million facility, and a recently completed $21.0 million facility. Following this acquisition, Navios Containers controls a fleet of 14 vessels, totaling 57,100 TEU and the current average age of the fleet is 9.7 years.