Navios Maritime Partners Takes Delivery of 2 Container Ships

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The holiday season has seen Navios Maritime Partners  gain two new assets. The company announced it has taken delivery of a pair of vessels, the Hyundai Singapore, and the Hyundai Hong Kong, both of which were built in 2006 and have a capacity of 6,800 twenty-foot equivalent units.

The two ships have been chartered out for a 10-year period to an entity that Navios characterized as "an investment grade counterparty" that it did not name. The net rate is $30,150 per day per vessel. The company expects the Singapore and the Hong Kong combined to bring in roughly $15.9 million in annual EBITDA. All told, for the full charter period, they should generate around $155.3 million over the full period.

In its most recently reported quarter, the company posted EBITDA of $35.6 million.

Navios has an option to terminate the charter agreement after year seven.

With the two new vessels, Navios now has a total fleet of 25 ships, with five more to be delivered by Q1 2014.

The article Navios Maritime Partners Takes Delivery of 2 Container Ships originally appeared on

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