Navios Partners Receives Three Dry Cargo Vessels to Its Fleet

Navios Maritime Partners L.P. (Navios Partners) an owner and operator of dry cargo vessels, announced today that the Hyundai Tokyo, the Hyundai Shanghai and the Hyundai Busan, all 2006-built container vessels of 6,800 TEU each, were delivered to Navios Partners’ owned fleet on December 10, 13 and 16, 2013 respectively.

Following the acquisition of these vessels, Navios Partners has taken delivery of a total of five container vessels of 6,800 TEU each and this completes the acquisition of the container vessels as previously announced. All five vessels have been chartered out to an investment grade counterparty for ten years (with Navios Partners’ option to terminate after year seven), at a rate of $30,150 net per day per vessel.

The vessels are expected to generate approximately $39.5 million annual EBITDA and $386.5 million aggregate EBITDA for the ten years of the charter period. EBITDA estimates assume expenses approximating current operating costs and 360 revenue days per year.

Navios Partners, December 16, 2013

 

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