Greek drybulk shipper Navios Maritime Holdings Inc. said Thursday that it has purchased a new vessel for $36.2 million.
The Navios Celestial is a 2009 Ultra Handymax vessel, and it was obtained from a Japanese shipyard.
The vessel's purchase was funded with $31.2 million of cash and $5 million in mandatorily convertible preferred stock, the company said in a statement.
The company said the vessel's effective purchase price was $33.5 million, using the $10 mandatory conversion price of the preferred stock.
Initially, the company will employ this vessel in the spot market.
Navios currently controls a fleet of 60 vessels, of which 33 are owned and 27 are chartered-in under long-term charters. Navios also has 21 more vessels to be delivered through 2013.
In afternoon trading, Navios shares fell 19 cents, or 3.8 percent, to $4.76.
The Navios Celestial is a 2009 Ultra Handymax vessel, and it was obtained from a Japanese shipyard.
The vessel's purchase was funded with $31.2 million of cash and $5 million in mandatorily convertible preferred stock, the company said in a statement.
The company said the vessel's effective purchase price was $33.5 million, using the $10 mandatory conversion price of the preferred stock.
Initially, the company will employ this vessel in the spot market.
Navios currently controls a fleet of 60 vessels, of which 33 are owned and 27 are chartered-in under long-term charters. Navios also has 21 more vessels to be delivered through 2013.
In afternoon trading, Navios shares fell 19 cents, or 3.8 percent, to $4.76.