Navios Partners Announces Acquisition of Capesize Vessel

Navios-NYSE

Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM) an international owner and operator of drybulk and container vessels, announced that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5 million.

The vessel is expected to be delivered to Navios Partners’ owned fleet during the third quarter of 2017.

The vessel is expected to generate approximately $3.7 million of annual EBITDA based on current rate environment (Clarkson’s 1-year time charter rate for Capesize vessels as of April 21, 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.

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