Navios Partners Announces Long Term Charters on 5 Containerships

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Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, announced that it has secured new long-term time charters for five containerships.

The containerships have been chartered-out for 35 – 36 months at an average rate of approximately $41,723 net per day. The charters have the following structure: The first year is chartered-out at $54,313 net per day, the second year at $45,425 net per day and the remaining 11 months of the minimum period at $23,972 net per day.

The charters will commence upon expiration of the current employment of the vessels.

The vessels are expected to generate approximately $220.0 million aggregate net revenue for the minimum charter period and $181.3 million aggregate EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year.

NMM’s fleet (on a delivered basis) consists of 89 vessels, of which 51 are dry bulk vessels and 38 are containerships. The fleet has total capacity of 8.2 million dwt.

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