Greek Navios Maritime Partners led-by Angeliki Frangou stays active with more additions to its fleet, as the shipowner agreed to acquire three newbuilding scrubber-fitted VLCC tankers and a Japanese newbuilding scrubber-fitted capesize vessel at a total cost of $431.6m for the four newbuilding vessels.
Navios Partners agreed to buy three newbuilding scrubber-fitted VLCC tankers from an unrelated third party for an aggregate purchase price of $361.5m. The vessels are expected to be delivered into Navios Partners’ fleet during the second half of 2028 and in 2029. The closing of the transactions is subject to completion of customary documentation.
The company’s total investment in newbuilding VLCC tankers amounts to $843.5m, including four vessels previously announced by Navios Partners.
Navios said the seven vessels, including one vessel that is currently under advanced discussions with a charterer, have been chartered-out for an average firm period of 6.1 years at an average rate of $45,224 net per day, expected to generate $700.2m of contracted revenue.
Navios has also agreed to acquire a Japanese newbuilding scrubber-fitted capesize vessel from an unrelated third party under a ten-year bareboat-in contract at a purchase price of around $70.1m.
The company has the option to buy the vessel starting at the end of year four until the end of the charter period.
Assuming the exercise of the option at the end of the ten-year period, the bareboat agreement reflects an implied purchase price of approximately $70.1m and an implied effective interest rate of about 6.0%. The vessel is expected to be delivered into Navios Partners’ fleet during the second half of 2029.
Navios Partners has also agreed to sell a 2008-built 4,730 TEU containership with an age of 19.2 years (based on the estimated delivery date) to an unrelated third party for a gross sale price of $34.5m. The sale is expected to be completed in the second half of 2027.
