2018 June 13 16:34

Navios Maritime Partners L.P. announces delivery of one Panamax vessel

Navios Maritime Partners L.P., an  international owner and operator of container and  dry bulk vessels, announced today that it took  delivery of the Navios Altair I, a 200 6 - built, 74,47 5 dwt Panamax vessel on June 7, 2018. As previously  announced, the vessel  was acquired for a price of $ 11.0 million.

The vessel is chartered out at a net rate of $9, 844 per day until November 2018. Based on the existing  charter and the current rate environment (Clarksons’ 1 - year time charter rate for Panamax vessels as  of  June 1, 2018), the vessel is expected to generate approximately $ 2.3 million of EBITDA for the first  year, assuming  maximum redelivery  period  from charterers, 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 and $7.15 million bank debt  maturing in 2023 and bearing interest at LIBOR plus 300 bps per annum.

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

About Navios Maritime Partners L.P.

Navios Maritime Partners L.P. is a publicly traded master limited partnership which owns  and operates container and drybulk vessels