• BIST 105.994
  • Altın 317,534
  • Dolar 6,2384
  • Euro 6,8405
  • İstanbul 9 °C
  • Ankara 10 °C

Navios Partners Containerships

Navios Partners Containerships
Navios Maritime Partners L.P., an owner and operator of dry cargo vessels, today reported its financial results for the third quarter and nine months ended.

 

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: “I am pleased with the results of this quarter. In addition to strengthening our balance sheet through equity and debt  capital market activities, we achieved $35.6 million of EBITDA and $13.1 million of Net Income.”

Angeliki Frangou continued, “We are announcing a quarterly distribution of $0.44 and a quarter cent. This represents an annual distribution of $1.77 and an attractive current yield of about 11.7%. With the  transformative acquisition of the five container vessels, we are not only committed to this minimum distribution through the end of 2014, but we believe that we are positioned to increase distributions in  the medium term as the dry bulk market improves.”

$275 million acquisition of five container vessels with 10 year charters.Navios Partners has agreed to acquire the following five South Korean-built containers for a total consideration of $275.0 million.

The vessels are chartered out for 10 years (with Navios Partners’ option to terminate after year seven), at $30,150 net per day per vessel. The total acquisition cost will be funded partially by the issuance  of a $189.5 million add-on to the existing Term Loan B facility and available cash.

The vessels are expected to generate approximately $39.5 million annual EBITDA and $386.5 million aggregate  EBITDA for the 10 years of the charter period. EBITDA estimates assume expenses approximating operating cost structure under the amended Management Agreement and 360 revenue days per year.

www.turkishmaritime.com.tr

This news is a total 1617 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |