Navios Partners to Acquire Panamax Vessel

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Navios Partners agreed to acquire a 2005-built Panamax vessel, of approximately 87,000 dwt, for USD 12.95 million. The vessel is expected to be delivered to Navios Partners’ owned fleet in March 2018. Based on the current rate environment (Clarksons’ 1-year time charter rate for Panamax vessels as of March 2, 2018), the vessel is expected to generate approximately USD 3.2 million of annual EBITDA, assuming operating expenses approximating current operating costs and 365 revenue and cost days.

Navios Partners is expected to finance the acquisition with cash on its balance sheet and bank debt at terms similar to its existing banking facilities.

Following this acquisition, Navios Partners controls 40 vessels.

Sea News, March 12