Navios Maritime Containers Inc. (Navios Containers) (N-OTC: NMCI), a growth vehicle dedicated to the container sector, announced that it agreed to acquire a 2010-built, 4,250 TEU container ship for $11.78 million.

The acquisition is subject to a number of conditions, and no assurance can be provided that the acquisition will close.

Navios Maritime Containers Inc. Announces Agreement to Acquire a Containership and Fleet Employment Update

The vessel is expected to be delivered in Q1 2018.

Navios Containers expects to finance the acquisition with cash on its balance sheet and $6.0 million from an existing credit facility.

Fleet Employment Update

Following the acquisition, Navios Containers will own 22 vessels, totaling 93,130 TEU, with a current average fleet age of 9.8 years.

Navios Containers has chartered-out 56.5% of its available days for 2018 and 18.7% of its available days for 2019.

The following table provides a summary of the fleet employment:

   2018E  2019E
 Available days  7,955  8,030
 Contracted days  4,491  1,500
 Open days  3,464  6,530

Source: Navios Containers