World News
Navios to Acquire Entire Fleet from Troubled Rickmers Maritime
Navios Maritime Partners L.P. (Navios) has announced that it is set to acquire Rickmers Maritime's (Rickmers') entire container fleet for approximately $113 million.
The fleet includes 14 container vessels - 11 vessels of 4,250 TEU and three vessels of 3,450 TEU.
"We are pleased to announce the agreement for the acquisition of 14 container vessels from Rickmers Maritime," said Angeliki Frangou, Chairman and CEO of Navios.
"We anticipate acquiring five 4,250 TEU vessels on May 15, 2017. These vessels are employed on charters that have staggered expirations in 2018 and early 2019 at a net daily charter rate of $26,850."
The acquisition, which is subject to a number of conditions, is being financed through a $20 million equity investment by Navios and a secured loan facility under discussion.
"Our operating platform was attractive to the Trust and its lending banks because of our disciplined technical and commercial management and favorable operating costs," said Frangou.
"This acquisition demonstrates our ability to source proprietary deals, and we are continuing to seek
exposure to the container sector."
Earlier this month, Ship & Bunker reported that Rickmers Trust Management Pte. Ltd. (RMT), the trustee-manager of Rickmers, announced that, in light of the aggravated illiquidity and lack of new investors, Rickmers would be wound up and delisted.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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