Navios Maritime Announces Delivery of Containership

(Image Courtesy: FleetMon)

Navios Maritime Containers Inc. (Navios Containers) has announced that it took delivery of the Navios Unison, a 2010-built, 10,000 TEU containership on May 30, 2018. As previously announced, the vessel was acquired for a price of USD 50.25 million.

The vessel is chartered out at a net rate of USD 26,663 per day until March 2019. The vessel is expected to generate approximately USD 6.8 million of EBITDA for the first year, assuming (a) revenue based on contracted time charter rate through the charter expiration date and same rate per open day thereafter and (b) operating expenses in line with the management agreement and normal operations.

The acquisition of the vessel was financed with cash on the  balance sheet and a USD 25.0 million term loan facility. The facility has an amortization profile of 9 years, matures in June 2023 and bears interest at LIBOR plus 300 bps per annum. Navios Containers controls 25 vessels, totalling 119,538 TEU, with a current average fleet age of 10.2 years.

Sea News, June 5