2017 April 21 14:02

Navios Maritime Partners agrees to acquire 14-vessel container fleet from Rickmers Maritime

Navios Maritime Partners L.P. an  international owner and operator  of drybulk and container vessels,  announced today that it has  agreed to acquire the entire container fleet of Rickmers Maritime for about  $113.0 million. 

The acquisition is being financed through a $20 milli on equity investment by Navios Partners and a  secured loan facility under discussion. The vessels  are expected to be delivered starting May 15,  2017. The acquisition is subject to a number of  conditions, and no assurance can be provided that  the acquisition will close in all or part. 

Navios Partners will acquire these vessels though a wholly owned subsidiary, Navios Partners Containers Inc., which will be an “unrestricted subs idiary” as defined in the Credit Agreement, dated March 14, 2017, for Term Loan B facility. In addition,  a third party has an option to acquire up to  25% of the equity in Navios Partners Containers Inc., based on allocated cost.

The fleet consists of 14 container vessels, 11 of  which are 4,250 TEU vessels  and three of which are  3,450 TEU vessels. The average age of the fleet is  9.5 years. Five of th e 4,250 TEU vessels are  employed on charters that have  staggered expirations in 2018 and early 2019 at a net daily charter  rate of $26,850.