rss icon Subscribe
desktop mobile

Navios Maritime Partners Adds One Panamax Vessel

Photo: Navios Maritime Holdings, Inc.

Aiswarya Lakshmi

Navios Maritime Partners, an international owner and operator of container and dry bulk vessels, announced today that it took delivery of the Navios Altair I, a 2006-built, 74,475 dwt Panamax vessel on June 7, 2018.

As previously announced, the vessel was acquired for a price of $11.0 million.
The vessel is chartered out at a net rate of $9,844 per day until November 2018. Based on the existing charter and the current rate environment (Clarksons' 1-year time charter rate for Panamax vessels as of June 1, 2018), the vessel is expected to generate approximately $2.3 million of EBITDA for the first year, assuming maximum redelivery period from charterers, operating expenses approximating current operating costs and 360 revenue and cost days.
The acquisition of the vessel was financed with cash on the balance sheet and $7.15 million bank debt maturing in 2023 and bearing interest at LIBOR plus 300 bps per annum.
Navios Partners controls a fleet of 38 vessels, of which 13 are Capesize vessels, 17 are Panamaxes, three are Ultra-Handymaxes and five are Container vessels.

Jun 12, 2018

 

People & Company News

Maersk to Pursue Separate Listing of Maersk Drilling

Photo: Maersk Drilling

Danish shipping company A.P. Moller-Maersk has decided to pursue a demerger with its offshore

KOGAS Invests $8.84bn in LNG, Hydrogen Projects

File Photo: © alexyz3d / Adobe Stock

South Korean state-owned Korea Gas Corporation (KOGAS) will invest 10 trillion won (US$8.

Maersk to Spin off Drilling, Hand Total Shares to Investors

(Photo: Maersk)

A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in

Ship Sales

Yang Ming Orders Ten 2,800 TEU Containerships

File Image: Yang Ming Marine Trans

Yang Ming Marine Transport Corp. (Yang Ming) signed a contract with CSBC CORPORATION

Genco Shipping & Trading Adds Two Vessels to its Fleet

Image: Genco Shipping

Genco Shipping & Trading  announced that it has taken delivery of the Genco Endeavour and the

South Korea Tops Global Shipbuilding Industry in July

Image: Samsung Heavy Industries

South Korea maintained its number one ranking in the global shipbuilding market in July.

Maritime Apps