Navios Maritime Containers Inc. (Navios Containers) (NOTC:NMCI), announced earlier today that it has agreed to acquire two 2009-built 4,250 TEU container vessels for an aggregate purchase price of $19.75 million. The vessels are expected to be delivered to Navios Containers’ fleet in early November 2017.
Based on the current rate environment, the vessels are expected to generate approximately $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.