Navios Containers Acquires Boxship Quartet

Monaco-based Navios Maritime Containers has taken delivery of four Panamax containerships, which are employed on charters with a net daily charter rate of USD 27,156.

The company said that the charters, which expire in 2020, are expected to generate around USD 70 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year.

Navios Containers previously agreed to acquire the four 2008-built vessels for a total purchase price of USD 96.8 million.

The company financed the transaction with the net proceeds from its recently completed USD 50 million private placement and USD 50 million of additional bank debt it has secured on terms consistent with its existing credit facilities.

The first of the four 4,730 TEU containerships, APL Denver, was delivered to the company in late November.

Following this acquisition, Navios Containers controls 20 vessels, totaling 84,520 TEU with a current average fleet age of 9.8 years.

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