Navios Maritime Containers Inc. Completes Acquisition of Four Containerships
MONACO, Dec. 14, 2017 (GLOBE NEWSWIRE) — Navios Maritime Containers Inc. (“Navios Containers”) (N-OTC:NMCI), a growth vehicle dedicated to the container sector, announced today that it has taken delivery of four 2008-built Panamax containerships. These vessels are employed on charters with a net daily charter rate of $27,156.
The charters expire in 2020 and are expected to generate approximately $70.0 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year.
Navios Containers previously agreed to acquire the four 2008-built 4,730 TEU containerships for a total purchase price of $96.8 million.
Navios Containers financed the acquisition of these vessels with the net proceeds from its recently completed $50.0 million private placement and $50.0 million of additional bank debt it has secured on terms consistent with its existing credit facilities.
Following this acquisition, Navios Containers controls 20 vessels, totaling 84,520 TEU with a current average fleet age of 9.8 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; future 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. 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 the Fleet and the market for the Fleet 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.