Navios Partners Acquires Dry Bulk Fleet for $835 MN From Parent Company
Navios Maritime Partners L.P, a Greece-based owner and operator of dry cargo and tanker vessels, has announced that it will acquire a bulk fleet of 36 ships from its parent company Navios Maritime Holdings, for $835 mn. This acquisition also entails Navios Maritime Partners assuming the $441.6 mn worth of bank liabilities, bareboat obligations, and finance leasing obligations from the seller.
The fleet of 36 acquired vessels is composed of 26 owned vessels and 10 vessels that are chartered. This acquisition increases their total capacity by 3.9 mn DWT. It elevates Navios Partners to become the company with the second largest and third largest dry bulk fleet among publicly traded US companies.
The average age of the acquired fleet is evaluated to be 9.6 years. Navios Partners has stated that the acquisition is a part of a move towards migrating to a younger and less carbon-intensive fleet by selling older and less carbon-efficient vessels over time. After its completion, Navios partners will own and operate 90 dry bulk vessels, 49 container ships, and 49 tanker vessels, with 22 new build vessels in the pipeline to be delivered through the first quarter of 2025.