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Navios Maritime Containers to buy 9 box ships for US$390m

  • Author:Alex
  • Source:Sunny worldwide logistics
  • Release Date:2018-06-20
Navios Maritime Containers to buy 9 box ships for US$390m

Company Profile:
Sunny Worldwide Logistics is a full-service domestic and international freight forwarder based in China.
Member of WCA ( World Cargo Alliance) , over the last 16 years, we focus on the reliable customer service and competitive transport.

NAVIOS Maritime Containers has agreed to purchase five containerships that will cost US$246 million in total with the vessels scheduled for delivery in the third quarter.

The five containerships are expected to generate in total $35.3 million (EBITDA) over the next 12 months based on existing charters and the prevailing rate environment, reported New York's Marine Link.

The company has also acquired options for an additional four containerships, each of which will cost $36 million.

"All of the acquisitions are subject to certain conditions and there can be no assurances that these acquisitions will occur in whole or in part. In addition, we may be unable to secure debt financing for these acquisitions on terms satisfactory to us, or at all," the company said in a statement.

Navios Containers also agreed to purchase four 10,000 TEU containerships for $210 million from a third party. The vessels are employed on time charters with a net daily rate of $26,663 that will expire between April and June 2019.

The acquisition of these four ships will be financed using $125 million of new bank debt (on terms consistent with its existing credit facilities).

Following this acquisition, the company will control 30 vessels with an average age of 9.8 years for a total capacity of 166,338 TEU.