Navios Containers Pays USD 52.5 Mn for 10,000 TEU Boxship

ContainershipIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

Monaco-based Navios Maritime Containers has acquired a 2011-built containership from an unrelated party for USD 52.5 million.

The 10,000 TEU unit is expected to be delivered into the company’s fleet during the first quarter of 2019. The vessel is chartered out at a net rate of USD 26,325 per day until November 2020 and thereafter at USD 27,300 per day until October 2021.

The containership is expected to generate around USD 9.5 million of revenue and USD 6.5 million of EBITDA in the twelve month period following its delivery, the shipowner said.

Navios Containers will finance the acquisition through USD 31.8 million of debt financing, maturing in 2023 and bearing interest at LIBOR plus 325 bps per annum, a USD 15 million credit by the seller for a period until December 31, 2019 at a rate of 500 bps per annum, as well as USD 5.7 million of cash on the balance sheet.

The company informed that the acquisition is subject to certain conditions, and there can be no assurances that it or the related financing will occur in whole or in part.

Navios Containers will own 30 containerships, including a containership subject to an unexercised option, totaling 152,821 TEU, with a current average fleet age of 10.4 years.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 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 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >