Navios Partners acquires five 4,250 TEU container vessels from Rickmers Trust for $59.0 mln

By Finance

Navios Maritime Partners L.P. (Navios Partners) (NYSE:NMM) an international owner and operator of drybulk and container vessels, announced yesterday that pursuant to the Master Agreement with Rickmers Maritime Trust Pte (Rickmers Trust), Navios Partners acquired five container vessels for $59.0 million.

Navios Partners acquires five 4,250 TEU container vessels from Rickmers Trust for $59.0 mln

The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850. The charters expire in 2018 and early 2019 and the vessels are expected to generate approximately $45.0 million of EBITDA during the period of the charters, assuming expenses approximating current operating costs and 360 revenue days per year.

These vessels are expected to be sold to Navios Maritime Containers Inc. (Navios Containers), as previously announced.

The Master Agreement provides for the acquisition of nine additional vessels, four of which are laid up and none of which are employed under long-term charters. Navios Partners will now focus on acquiring the balance of the fleet. The acquisition is subject to a number of conditions, and no assurance can be provided that the acquisition will close in all or part.

Source: Navios Maritime