Navios Maritime Partners L.P. (Navios Partners (NYSE: NMM), an international owner and operator of drybulk and container vessels, announced Friday (May 5) that it has agreed to acquire one 2009 Japanese-built Capesize vessel of 180,274 dwt for a purchase price of $28.3 million.
The vessel is expected to be delivered to Navios Partners' owned fleet by August 2017.
The vessel is expected to generate approximately $3.7 million of annual EBITDA based on the current rate environment (Clarkson’s 1-year time charter rate for Capesize vessels as of April 28, 2017), assuming operating expenses approximating current operating costs and 360 revenue days.
Navios Partners is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.
In the first four months of 2017 Navios Partners has agreed to acquire four drybulk vessels (two Panamax and two Capesize vessels) with a combined capacity of about 500,000 dwt for a total price of about $83.0 million.
Fleet Update: Following this acquisition, Navios Partners controls 34 vessels.
Source: Navios Partners