The acquisition of the two vessels follows the announcement earlier this year that the company was buying 14 containerships with an aggregate capacity of 57,100 TEUs.
Ocean carrier Navios Maritime Containers Inc., part of Piraeus, Greece-based Navios Maritime Holdings, has agreed to acquire two 2009-built 4,250-TEU container vessels for an aggregate purchase price of $19.75 million.
The vessels are expected to be delivered to Navios Containers’ fleet in early November, the company said Oct. 19.
Based on the current rate environment, the vessels are expected to generate about $1.5 million of earnings before interest, tax, depreciation and amortization (EBITDA) over the next 12 months, based on fixed operating expenses and 360 revenue days.
Navios Containers said it would finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.
The acquisition of the two vessels follows the announcement earlier this year that the company was buying 14 container vessels with an aggregate capacity of 57,100 TEUs and an average age of 9.7 years, for a total purchase price of $118 million, from Rickmers Maritime, a now-failed container shipping trust that filed for insolvency in June.
Navios Containers bought most of Rickmers’ fleet, specifically 11 4,250-TEU ships and three 3,450-TEU vessels.
Following the completion of this latest acquisition, Navios Containers said it will control 16 vessels, totaling 65,600 TEU with a current average fleet age of almost 10 years.
The company, which was created earlier this year by Navios Maritime Holdings, has so far declined to state from which company or companies it is acquiring its latest two panamax vessels.
Navios Maritime acquires two 4,250-TEU containerships
