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Navios Maritime Buys Japanese-Built Capesize Vessel for USD 28.3m
Monday 08 May 2017

8 May 2017 - Greece-based drybulk and container vessel owner/operator Navios Maritime Partners L.P. (NYSE: NMM) has agreed to acquire one Japanese-built Capesize vessel, expected to be delivered to Navios Partners' owned fleet by August 2017, the company said.
The 180,274 dwt vessel, built in 2009, was acquired for a purchase price of USD 28.3m. 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.
This vessel is expected to generate approximately USD 3.7m 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.
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 USD 83m.
Following this acquisition, Navios Partners controls 34 vessels.
Navios Maritime Partners L.P. is a publicly traded master limited partnership, which owns and operates container and dry bulk vessels.
Date Published: 08/05/2017
Target: Japanese-built Capesize vessel
Country: Japan
Deal Size: 28.3m (USD)
Sector: Water Transport
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Buyer: Navios Maritime Partners