Navios to Acquire Containership Pair

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On October 19, Navios Maritime Containers Inc., announced that it has agreed to acquire two 2009-built 4,250 TEU container vessels for an aggregate purchase price of USD 19.75 million. The vessels are expected to be delivered to Navios Containers’ fleet in early November 2017.

The company did not reveal who the seller of the box ship duo is.

Based on the current rate environment, the vessels are expected to generate approximately USD 1.5 million of EBITDA over the next twelve months, based on fixed operating expenses and 360 revenue days.

Navios Containers is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

Following the completion of this acquisition, Navios Containers will control 16 vessels, totaling 65,600 TEU with a current average fleet age of 9.7 years.

Sea News, October 20