Navios Maritime Partners, an owner and operator of dry cargo vessels, has announced that it has purchased from Navios Maritime Holdings the ‘Navios Melodia’, a 2010 South-Korean-built Capesize vessel of 179,132DWT, and the ‘Navios Fulvia’, a 2010 South Korean-built Capesize vessel of 179,26DWT, for a total of US$177.0 million.
The ‘Navios Melodia’ is expected to generate annual base EBITDA of approximately US$8.4 million and aggregate base EBITDA of approximately US$100.9 million over the life of the charter contract.
The ‘Navios Fulvia’ is expected to generate annual EBITDA of approximately US$16.3 million and aggregate EBITDA of approximately US$81.4 million over the life of the charter contract.
The acquisition of the two vessels will be financed with a new tranche of US$50.0 million under an existing credit facility, US$112.0 million of cash from balance sheet and the issuance of 788,370 common units of Navios Partners.
"The acquisition of the two vessels increases the average charter out period on our fleet to 4.8 years and reduces the average age of the vessels to 4.8 years,” said Angeliki Frangou, Chairman and CEO of Navios Partners.
“We anticipate our newly enlarged fleet of 16 vessels will further develop our ability to maintain and increase distributions to unitholders over time."
The ‘Navios Melodia’ is expected to generate annual base EBITDA of approximately US$8.4 million and aggregate base EBITDA of approximately US$100.9 million over the life of the charter contract.
The ‘Navios Fulvia’ is expected to generate annual EBITDA of approximately US$16.3 million and aggregate EBITDA of approximately US$81.4 million over the life of the charter contract.
The acquisition of the two vessels will be financed with a new tranche of US$50.0 million under an existing credit facility, US$112.0 million of cash from balance sheet and the issuance of 788,370 common units of Navios Partners.
"The acquisition of the two vessels increases the average charter out period on our fleet to 4.8 years and reduces the average age of the vessels to 4.8 years,” said Angeliki Frangou, Chairman and CEO of Navios Partners.
“We anticipate our newly enlarged fleet of 16 vessels will further develop our ability to maintain and increase distributions to unitholders over time."