Navios Maritime Partners Acquires Two Newbuilding LNG Dual Fuel Containerships

Navios Maritime Partners L.P. NMM has agreed to purchase two liquified natural gas (LNG) dual-fuel 7,700 TEU containerships for an aggregate purchase price of $241.2 million.
The vessels are expected to be delivered into the fleet in 4Q24.
In addition, Navios Partners has secured a two-month option for two additional LNG dual-fuel 7,700 TEU containerships at the same terms, delivering in 2Q25.
The two containerships have been chartered-out for 12 years, at an average net rate of $42,288 per day, with an option to extend for an additional two years at a net rate of $24,875 per day.
NMM held cash and equivalents of $108.2 million as of March 31, 2022.
In connection with the transaction, the charterer agreed to amend existing charters on two 6,800 TEU containerships currently expiring in 4Q23. The charter period will be extended for seven months at $43,944 net per day.
Price Action: NMM shares are trading lower by 2.35% at $24.08 on the last check Wednesday.