Navios Containers Expanding Fleet with Two Boxships

Illustration; Image Courtesy: Rickmers Maritime

Monaco-based Navios Maritime Containers has reached an agreement to purchase two 2009-built container ships for a price of USD 19.75 million.

Under the deal, the 4,250 TEU boxship duo is expected to be delivered to the company’s fleet in early November 2017.

Based on the current rate environment, the vessels are expected to generate around USD 1.5 million of EBITDA over the next twelve months, based on fixed operating expenses and 360 revenue days, Navios Containers said.

The company is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

Once the transaction is completed, Navios Containers will control 16 vessels, totaling 65,600 TEU with a current average fleet age of 9.7 years.

In late August 2017, Navios Maritime Containers agreed with investors to sell 10 million of its common shares for an aggregate of USD 50 million of gross proceeds at a subscription price of USD 5 per common share.

The company then said that the funds would be used for vessel acquisitions, working capital and general corporate purposes.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 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 1 2 3 4

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >