Navios Maritime Partners L.P. Announces Sale of One Containership and Options to Sell Four Additional Containerships
June 15 2018 - 4:40PM
Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM), an
international owner and operator of container and dry bulk vessels,
announced today that it has agreed to sell the Hyundai Hongkong, a
2006-built, 6,800 TEU containership for a total net sale price of
$36.0 million to Navios Maritime Containers Inc. (“Navios
Containers”) (NOTC:NMCI). The vessel is expected to be
delivered to Navios Containers in the third quarter of 2018.
Navios Partners also granted options to Navios
Containers to acquire four additional 2006-built, 6,800 TEU
containerships (the Hyundai Singapore, the Hyundai Busan, the
Hyundai Shanghai and the Hyundai Tokyo) for a purchase price of
$36.0 million per vessel. Each of the four vessels are sister ships
to the Hyundai Hongkong and have the same time charter employment
in place.
The acquisition is subject to certain
conditions.
The transaction was unanimously approved by the
Conflicts Committee of the Board of Directors of Navios
Partners.
Fleet UpdateFollowing the above
mentioned sale of one containership, Navios Partners controls a
fleet of 37 vessels, of which 13 are Capesize vessels, 17 are
Panamaxes, three are Ultra-Handymaxes and four are Container
vessels.
About Navios Maritime Partners L.P.Navios
Maritime Partners L.P. (NYSE:NMM) is a publicly traded master
limited partnership which owns and operates container and drybulk
vessels. For more information, please visit our website at
www.navios-mlp.com.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events including Navios
Partners’ 2018 cash flow generation, future contracted revenues,
future distributions, opportunities to reinvest cash accretively in
a fleet renewal program or otherwise, potential capital gains, our
ability to take advantage of dislocation in the market and Navios
Partners’ growth strategy and measures to implement such strategy;
including expected vessel acquisitions and entering into further
time charters. Words such as “may”, “expects”, “intends”,
“plans”, “believes”, “anticipates”, “hopes”, “estimates”, and
variations of such words and similar expressions are intended to
identify forward-looking statements. Such statements include
comments regarding expected revenue and time charters.
These forward-looking statements are based on
the information available to, and the expectations and assumptions
deemed reasonable by Navios Partners at the time these statements
were made. Although Navios Partners believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks
and are based upon a number of assumptions and estimates which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Navios Partners. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause
actual results to differ materially include, but are not limited
to, uncertainty relating to global trade, including prices of
seaborne commodities and continuing issues related to seaborne
volume and ton miles, our continued ability to enter into long-term
time charters, our ability to maximize the use of our vessels,
expected demand in the dry cargo shipping sector in general and the
demand for our Panamax, Capesize, Ultra-Handymax and Container
vessels in particular, fluctuations in charter rates for dry cargo
carriers and container vessels, the aging of our fleet and
resultant increases in operations costs, the loss of any customer
or charter or vessel, the financial condition of our customers,
changes in the availability and costs of funding due to conditions
in the bank market, capital markets and other factors, increases in
costs and expenses, including but not limited to: crew wages,
insurance, provisions, port expenses, lube oil, bunkers, repairs,
maintenance and general and administrative
expenses, the expected cost of, and our ability
to comply with, governmental regulations and maritime
self-regulatory organization standards, as well as standard
regulations imposed by our charterers applicable to our business,
general domestic and international political conditions,
competitive factors in the market in which Navios Partners
operates; risks associated with operations outside the United
States; and other factors listed from time to time in Navios
Partners’ filings with the Securities and Exchange Commission,
including its Form 20-Fs and Form 6-Ks. Navios Partners
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Navios Partners’
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based. Navios
Partners makes no prediction or statement about the performance of
its common units.
Public & Investor Relations Contact: Navios
Maritime Partners L.P. +1.212.906.8645 Investors@navios-mlp.com
Nicolas Bornozis Capital Link, Inc. +1.212.661.7566
naviospartners@capitallink.com
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