Navios Partners to Buy One More Capesize Bulker

Image Courtesy: Navios

Greek shipowner and operator Navios Maritime Partners has signed a deal to acquire a Capesize bulker for USD 28.3 million. 

The 180,274 dwt vessel will be delivered to Navios Partners from an undisclosed seller by August 2017, according to the company.

The ship is expected to generate approximately USD 3.7 million of annual EBITDA based on the current rate environment, assuming operating expenses approximating current operating costs and 360 revenue days.

Navios Partners said it will finance the acquisition with cash on its balance sheet and bank debt.

In late April, the company also signed an agreement to buy a 2010-built Capesize bulk carrier. Featuring 178,132 dwt, the vessel was bought from Italy’s shipping firm Rizzo Bottiglieri for a price of USD 27.5 million.

In the first four months of 2017,  Navios Partners inked deals to acquire four drybulk vessels – two Panamax and two Capesize bulkers – with a combined capacity of about 500,000 dwt.

In addition, the company agreed in April to acquire the entire container fleet consisting of fourteen ships from Rickmers Maritime for about USD 113 million.

Following the latest acquisition, Navios Partners will control a fleet of 34 vessels.

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