Navios Maritime Partners L.P., an international owner and operator of dry cargo and tanker vessels, agreed to acquire a 36-vessel dry bulk fleet for a gross purchase price of US$835 million, including the assumption of US$441.6 million of bank liabilities, bareboat obligations and finance leasing obligations, subject to debt and working capital adjustments (the transaction), from Navios Maritime Holdings Inc.
The 36-vessel dry bulk fleet consists of 26 owned vessels and 10 chartered-in vessels (all with purchase options) with a total capacity of 3.9 million DWT and an average age of 9.6 years. Assuming Clarksons’ 1-YR TC rate (as of 22 July 2022) and certain operating cost assumptions, the acquired vessels are expected to generate approximately US$164 million of estimated EBITDA and US$81.5 million of estimated free cash in 2023.
This acquisition builds upon Navios Partners’ strength in diversification and provides Navios Partners with:
Following the completion of the transaction, Navios Partners will own and operate a fleet comprised of 90 dry bulk vessels, 49 containerships and 49 tanker vessels, including 22 newbuilding vessels to be delivered through 1Q25.
