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Navios Partners acquires two dry bulk vessels

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Dry Bulk,


Navios Maritime Partners L.P. has acquired the Navios Gem, a 2014-built 181 336 dwt Capesize vessel, as well as and the Navios Victory, a 2014-built 77 095 dwt Panamax vessel, from Navios Maritime Holdings Inc.

The vessels were acquired for an aggregate purchase price of US$51.0 million, subject to working capital adjustments. The acquisition was partially financed with a US$33.0 million new credit facility. The credit facility has an amortisation profile of 9.7 years, which matures in September 2025, and bears interest at LIBOR plus 325 bps per annum.

Navios Gem is chartered out at a rate of 125% of average Baltic Capesize 5TC Index Routes per day until April 2021. Navios Victory is chartered out at a net rate of US$12 289 per day until December 2020 and at 112% of average Baltic Panamax 4TC Index Routes per day until February 2021.

The transaction was approved by the Conflicts Committee of the Board of Directors of Navios Partners.

Following the acquisition, Navios Partners controls a fleet of 55 vessels, of which 15 are Capesize vessels, 24 are Panamaxes, six are Ultra-Handymaxes, and 10 are containerships.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/06102020/navios-partners-acquires-two-dry-bulk-vessels/

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This article has been tagged under the following:

Dry cargo shipping news Panamax news Capesize news