Navios Maritime Repays $419Mln Loan
Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, managed to repay a major loan amounting to USD 418.5 million by combining three types of refinancing.Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “We are pleased with the refinancing of the Term Loan B as we devoted a great deal of effort to achieving this result. Through a combination of cash, commercial bank debt and sale and leaseback transactions, we…
Navios Partners Buys Five Rickmers Containerships
Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has acquired five containerships from Rickmers Maritime Trust Pte for $59 million. The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850 into 2018 and early 2019. The vessels, which are expected to generate approximately $45 million of EBITDA during the charter periods, will be sold to Navios Maritime Containers Inc. Under its agreement with Rickmers Trust, Navios Partners will acquire another nine vessels, four of which are laid up.
Rickmers Sells Entire Containership Fleet to Navios
Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has reached an agreement to acquire Rickmers Maritime’s entire containership fleet. The deal, worth about $113 million, will see Navios Partners acquire 14 container vessels from Rickmers Maritime though a wholly owned subsidiary, Navios Partners Containers Inc. Three of the container vessels are 3,450 TEU, and 11 are 4,250 TEU, combining for a total 57,100 TEU. The average age is 9.5 years.
Theodorou Joins Navios Partners Board of Directors
Navios Maritime Partners L.P., an owner and operator of container and dry bulk vessels, has appointed Lampros Theodorou to its Board of Directors, the company announced today. Theodorou founded Garnet & Associates Inc. in 2014 and has been Director since that time. For almost 20 years, Theodorou worked at EFG Eurobank S.A., most recently as Deputy General Manager and head of the Shipping Unit. Theodorou has served as a nonexecutive director of Paragon Shipping Inc. for the period May 2015 to April 2016.
Navios Holdings Announces Senior Leadership Changes
Navios Maritime Holdings Inc. has announced several senior leadership changes effective as of January 1, 2015. Shunji Sasada has been promoted to President of Navios Corporation and appointed as a member of the board of Navios Holdings. Sasada has served Navios in various capacities over the past 17 years, most recently as Chief Operating Officer of Navios Corporation and as a director, since their formation, of both Navios Maritime Partners L.P. and Navios Maritime Midstream Partners L.P. Sasada started his shipping career in 1981 in Japan with Mitsui O.S.K. Lines, Ltd.
Navios Revenue Up 25% in 3Q 2014
Highlights of Navios Maritime Holdings Inc. IPO of Navios Maritime Midstream Partners L.P. Navios Maritime Holdings Inc. a global vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the third quarter of 2014, for which we reported EBITDA of $42.4 million, a 5% increase compared to the same period last year.
Navios Maritime Purchases Navios Aurora II
Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, announced the purchase of Navios Aurora II, a 2009 South Korean-built Capesize vessel with a capacity of 169,031 dwt, for $110m from Navios Maritime Holdings Inc. (NYSE: NM). The vessel is chartered out until November 2019 for $41,325 (net) per day. $20m of the purchase price is funded by the issuance 1,174,219 common units of Navios Partners. The $17.03 issue price reflects NYSE's volume weighted average price of the common units for the five business day period prior to the acquisition of the vessel.
Navios Apollon Released from Captivity
Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally…
Navios Reports Q4 Results
Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, reported financial results for the fourth quarter and year ended December 31, 2009. Angeliki Frangou, Chairman and CEO of Navios Holdings, said, "Our industry entered 2009 facing challenges virtually without precedent. The economic crisis required that Navios focus on its balance sheet, which we did by raising more than $1.3 billion in a mix of equity and long-term debt from the capital markets and commercial banks.
Navios Maritime Sells Hyperion
Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced that on January 8, 2010, it has sold the Navios Hyperion, a 2004 Japanese-built Panamax vessel with a capacity of 75,707 dwt to Navios Maritime Partners L.P. for $63m in cash. Navios Hyperion has been chartered out at a net rate of $32,300 per day until February 2010 and $37,953 per day until April 2014. Navios Holdings intends to use the proceeds from the sale of this vessel for operating purposes, such as repayment of indebtedness or reinvestment in vessels.