Container company acquires additional ship

Monaco-based Navios Maritime Containers Inc. announced on July 31, 2018, that it has agreed to acquire a 2009-built, 4,563 TEU container ship for $13.9 million from an unrelated third party. The vessel is expected to be delivered in Q3/Q4 2018.

Based on the current rate environment (Clarksons Research 6-12 month time charter rate for 4,400 TEU vessels of $12,800 per day for July 2018) the vessel is expected to generate approximately $2.1 million of EBITDA over the next twelve months, based on operating expenses in line with the management agreement and normal operations.

Containers
Photo: navios-mlp.com

Navios Containers is expected to finance the acquisition with cash on its balance sheet and $9.0 million of additional bank debt on terms consistent with its existing credit facilities.

Following the acquisition, Navios Containers will own 26 vessels, totalling 124,101 TEU, with a current average fleet age of 10.3 years. Navios Maritime Containers Inc. is a growth vehicle dedicated to the container sector of the maritime industry, the company said.

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