NMM lines up box buy

New York-listed Navios Maritime Partners (NMM) has acquired an option to buy a containership built in South Korea in 2012.

The Greek owner said the deal has cost it nothing so far.

The 13,100-teu ship is owned by an unrelated third party and chartered to a “high-quality counterparty” for a further 12 years to May 2027 at $60,275 per day.

NMM would have to pay $147.8m for the vessel and must declare its option by 5 June this year.

It would then get its hands on the ship in the third quarter.

NMM would have an option to terminate the charter after the seventh year.

The boxship would generate EBITDA of $18.4m per year, for a total of $212.4m over the charter period, assuming operating costs stay stable.

Last month, the company said it had agreed to pay the same amount to acquire the 13,100-teu MSC Cristina (built 2011) from diversified German operator ER Schiffahrt.

source:www.tradewindsnews.com