Navios Maritime Containers Inc. (“Navios Containers”) (NOTC:NMCI), a growth vehicle dedicated to the container sector, announced today that it has agreed to acquire two 2009-built 4,250 TEU container vessels for an aggregate purchase price of $19.75 million. The vessels are expected to be delivered to Navios Containers’ fleet in early November 2017.
Based on the current rate environment, the vessels are expected to generate approximately $1.5 million of EBITDA over the next twelve months, based on fixed operating expenses and 360 revenue days.
Navios Containers is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.
Following the completion of this acquisition, Navios Containers will control 16 vessels, totaling 65,600 TEU with a current average fleet age of 9.7 years.
About Navios Maritime Containers Inc.
Navios Maritime Containers Inc. is a growth vehicle dedicated to the container sector of the maritime industry. For more information, please visit our website at www.navios-containers.com.
This press release contains forward-looking statements concerning future events including future vessel acquisitions and cash flow generation. 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. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Containers at the time these statements were made. Although Navios Containers 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 Containers. 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, the quality of Navios Containers’ fleet and the market for the fleet’s vessels, and changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, as well as general domestic and international political conditions. Navios Containers expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Containers’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Containers makes no prediction or statement about the performance of its common shares.
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Navios Maritime Containers Inc.