rss icon Subscribe
desktop mobile

Rickmers Sells Entire Containership Fleet to Navios

CMA CGM Azure (Photo: Rickmers Maritime)

Posted by Eric Haun

Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has reached an agreement to acquire Rickmers Maritime's entire containership fleet.

The deal, worth about $113 million, will see Navios Partners acquire 14 container vessels from Rickmers Maritime though a wholly owned subsidiary, Navios Partners Containers Inc.

Three of the container vessels are 3,450 TEU, and 11 are 4,250 TEU, combining for a total 57,100 TEU. The average age is 9.5 years.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, said, "We anticipate acquiring five 4,250 TEU vessels on May 15, 2017. These vessels are employed on charters that have staggered expirations in 2018 and early 2019 at a net daily charter rate of $26,850."

Frangou continued, "Our operating platform was attractive to [Rickmers Maritime] and its lending banks because of our disciplined technical and commercial management and favorable operating costs. This acquisition demonstrates our ability to source proprietary deals, and we are continuing to seek exposure to the container sector."

The acquisition, still subject to a number of conditions, is being financed through a $20 million equity investment by Navios Partners and a secured loan facility under discussion.

In addition, a third party has an option to acquire up to 25 percent of the equity in Navios Partners Containers Inc., based on allocated cost.

Name / TEU / Yard / Built
Initial Fleet Acquisition
  • MOL Dominance / 4,250 / Dalian, China / 2008
  • MOL Dedication / 4,250 / Dalian, China / 2008
  • MOL Delight / 4,250 / Dalian, China / 2008
  • MOL Destiny / 4,250 / Dalian, China / 2009
  • MOL Devotion / 4,250 / Dalian, China / 2009
Subsequent Fleet
  • Vicki Rickmers / 4,250 / Dalian, China / 2007
  • Maja Rickmers / 4,250 / Dalian, China / 2007
  • CMA CGM Azure / 4,250 / Dalian, China / 2007
  • Laranna Rickmers / 4,250 / Dalian, China / 2007
  • Sabine Rickmers / 4,250 / Dalian, China / 2007
  • Erwin Rickmers / 4,250 / Dalian, China / 2007
  • Henry Rickmers / 3,450 / Hyundai, SK / 2006
  • Richard Rickmers / 3,450 / Hyundai, SK / 2006
  • Moni Rickmers / 3,450 / Hyundai, SK / 2007

Apr 20, 2017

 

Container Ships

Kalmar Delivers RTGs to Evergreen

Pic: Kalmar

Kalmar, part of Cargotec, has successfully delivered five rubber-tyred gantry (RTG) cranes to

S.Korea's Exports on the Rise

© Angelika Bentin / Adobe Stock

South Korean exports during the first 20 days of this month rose 3.4 percent from a year ago in U.S.

Port Canaveral to Pilot Cold Storage Program

Port Canaveral said it has been named an official participant in the Southeast U.S. In-transit Cold Treatment Pilot Program by the U.S. Department of Agriculture

News

NMTP Training in Antigua and Barbuda

Photo: International Maritime Organization (IMO)

A three-day National Maritime Transport Policy (NMTP) workshop has been held in St.

UN Envoy to Yemen Says Houdeidah Port Should Be Kept Safe

The United Nations' special envoy to Yemen said on Monday he wanted to prevent any attack on the Houthi-held Red Sea port of Hodeidah and also called for the central bank's

UN Envoy to Yemen Says Houdeidah Port Should Be Kept Safe

The United Nations' special envoy to Yemen said on Monday he wanted to prevent any attack on the Houthi-held Red Sea port of Hodeidah and also called for the central bank's

Maritime Apps