![Navios Partners tops up tanker newbuilding tally with LR2 quartet](https://shippingtelegraph.com/wp-content/uploads/2023/11/ANGELIKI-FRANGOU.png)
The shipowner Navios Maritime Partners led-by Angeliki Frangou as the chairwoman and chief executive of the company, has revealed another newbuilding deal.
Angeliki Frangou, states that the shipping market is healthy despite the fact that we are experiencing “one of the most dangerous times in memory.”
The New-York listed company said in its third quarter earnings on Thursday that it has agreed to acquire four 115,000-dwt, scrubber-fitted aframax/LR2 tankers, from an unrelated third party, for a price tag of $61.25 million each. The price includes plus $3.3 million per vessel for additional features.
The vessels have been designed with the latest technology optimizing efficiency and will carry both crude and clean products. The ships are expected to be delivered into Navios Partners’ fleet during 2026.
The owner and operator of dry cargo and tanker vessels has also concluded during October an acquisition for a kamsarmax. Frangou bought the 2019-built kamsarmax of 81,692 dwt (previously chartered-in), from a non-disclosed third party, for a price of $28.0 million.
Angeliki Frangou modernizes its fleet by selling old vessels and sealing deals for newbuilds, while it expands into areas that will promote Navios long-term prospects, such as the recent tanker deals which the company entered into with various oil majors.
During the first nine months of 2023, Navios Partners has also agreed to acquire four newbuilding Japanese MR2 product tankers from unrelated third parties, under bareboat contracts. Each vessel is being bareboat-in for ten years. Navios has the option to acquire the vessels starting at the end of year four, until the end of the charter period.
The vessels are expected to be delivered into Navios Partners’ fleet during the second half of 2026 and the first half of 2027.
Angeliki Frangou, chairwoman and chief executive of Navios Partners stated, “I am pleased with the results for the third quarter of 2023, in which we reported revenue of $323.2 million and net income of $89.8 million. We are also pleased to report earnings per common unit of $2.92 for the quarter.”
Angeliki Frangou continued, “The United States and Euro zone economies are generally healthy. However, the wars in Ukraine and Israel coupled with inflation and a transition in the interest rate environment have contributed to making this one of the most dangerous times in memory.
“Despite these factors, the shipping market is healthy, and Navios has performed well. We continue to focus on things that we can control, such as reducing leverage, being eco-friendly through modern, energy efficient vessels and expanding into areas that will promote our long-term prospects, such as the recent tanker deals we entered into with various oil majors.”