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Navios Maritime acquires 2010-built capsize vessel

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Dry Bulk,

Navios Maritime Partners L.P., an international owner and operator of dry bulk and container vessels has agreed to acquire one 2010-built capesize vessel of 178 132 DWT for a purchase price of US$27.5 million.

The vessel is expected to be delivered to Navios Partners' owned fleet during 3Q17. The vessel is expected to generate approximately US$3.7 million of annual EBITDA based on current rate environment (Clarkson’s 1-year time charter rate for capesize vessels as of 21 April 2017), assuming operating expenses approximating current operating costs and 360 revenue days.

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

Following this acquisition, Navios Partners controls 34 vessels.

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