Navios Maritime Partners L.P. (Navios Partners) (NYSE:NMM), an international owner and operator of container and dry bulk vessels, announced yesterday that the Navios Apollon I, a 2005-built, 87,000 dwt Panamax vessel was delivered on May 9, 2018. As previously announced, the vessel was acquired for a price of $13.0 million.

Navios Maritime Partners L.P. Announces Delivery of One Panamax Vessel
Caption: Bulk carrier NAVIOS APOLLON I - Image courtesy of Ed Cooke

Based on the current rate environment (Clarksons’ 1-year time charter rate for Panamax vessels as of May 4, 2018), the vessel is expected to generate approximately $3.2 million of annual EBITDA, assuming operating expenses approximating current operating costs and 360 revenue and cost days.

The acquisition of the vessel was financed with cash on the balance sheet.

Navios Partners controls a fleet of 38 vessels, 13 Capesize vessels, 17 Panamaxes, three Ultra-Handymaxes and five Container vessels.

Source: Navios