The New York-listed Greek shipowner said it was acquiring four Japanese built bulkers comprising two newbuildings and two secondhand vessels. The newbuildings are a 180,000 dwt capesize due for delivery the fourth quarter of this year and a 61,000 dwt bulker for delivery first quarter 2014. Navios Partners also picked up a 2006-built kamsarmax and a 2005-built panamax.
Angeliki Frangou, chairman and ceo of Navios Partner said: “We have been patiently seeking appropriate vessels for Navios Partners in the open market for a while. As a result of the recent devaluation of the Japanese yen, some of our Japanese partners were able to transact for the first time in a few years. In a relatively short period of time, we acquired four vessels from leading Japanese shipyards with an average age of 3.75 years for $108m.”
Meanwhile the company reported a marginal $300,000 increase in EBITDA for the first quarter of 2013 to $37.1m compared to the same period a year earlier. Revenues for the period were up 4.8% at $50.3m.
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