Navios Maritime Containers Fleet Update
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 Adds 10,000 TEU Vessel
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 Partners Buys Five Rickmers Containerships
Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has acquired five containerships from Rickmers Maritime Trust Pte for $59 million. The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850 into 2018 and early 2019. The vessels, which are expected to generate approximately $45 million of EBITDA during the charter periods, will be sold to Navios Maritime Containers Inc. Under its agreement with Rickmers Trust, Navios Partners will acquire another nine vessels, four of which are laid up. None of these vessels are employed under long-term charters.
