Navios Maritime Sets Sights on USD 100 Mn Offering

Image Courtesy: Navios

New York-listed owner and operator of container and dry bulk vessels Navios Maritime Partners agreed with investors to sell approximately 47.6 million common units for USD 100 million in a registered direct offering.

The offering, standing at USD 2.10 per common unit, is expected to close on or about March 20, 2017, the company said.

Navios Partners said it would use the net proceeds of the offering for general working capital purposes, including vessel acquisitions.

The company saw red ink as it plunged to a net loss of USD 52.5 million for the year ended December 31, 2016, compared to a net income of USD 41.8 million posted in 2015.

However, Navios Maritime Partners’ CEO Angeliki Frangou said earlier that the company is well positioned to take advantage of a recovery in the dry sector.

According to Frangou, the company’s liquidity is solid as Navios earned USD 151 million from the sale of vessels and securities in 2016, and reduced long-term debt by almost USD 178 million.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >