One Killed, 15 Kidnapped in Violent Pirate Attack Off Nigeria
By Jonathan Spicer and Irem Koca ISTANBUL, Jan 24 (Reuters) – Pirates off Nigeria’s coast kidnapped 15 sailors from a Turkish container ship in the Gulf of Guinea on Saturday...
via Flickr
Navios Maritime Partners (NYSE: NMM), an owner and operator of dry cargo vessels, said today that it has purchased the Navios Buena Ventura, a 2010 South-Korean-built Capesize vessel, along with its eight year charter, from its subsidiary Navios Maritime Holdings Inc. (NYSE: NM). Navios Partners says the vessel was purchased for $67.5 million in cash of which $22.0 million are debt financing and the $45.5 million cash from balance sheet.
The vessel is chartered out at $29,356 per day until December 2020 with 50/50 profit sharing that kicks off when the Baltic Exchange Capesize TC Average exceeds $38,500. The Navios Buena Ventura is expected to generate annual base EBITDA of approximately $8.3 million and aggregate base EBITDA of approximately $70.8 million over the life of the charter contract, Navios Partners says The charter contract is insured by an AA rated insurance company in the European Union.
The Navios Buena Ventura has a dwt of 179,259 and will be the 19th vessel in the company’s fleet bringing the total carrying capacity of 2,124,691 dwt.
Join the 64,486 members that receive our newsletter.
Have a news tip? Let us know.