Navios Maritime Partners, an international owner and operator of dry cargo and tanker vessels, is planning a 240-million-dollar investment in China.
According to “Naftemporiki’s” sources, the shipping giant has reportedly agreed with Zhoushan Changhong International Shipyard for the order of four tankers transporting oil products, type LR2 (Long Range), with an option for four more.
The vessels are expected to be delivered by 2026.
According to Navios’ latest presentation, as part of its first quarter results, the order book consisted of 21 vessels, with a total value of 1.4 billion dollars. Eight of them are tankers, six LR2 tankers and two MR tankers. If confirmed, the new order will further increase the company’s footprint in the LR2 tanker market.
Navios is in the process of replacing older vessels with newbuilds and modern second-hand ones. So far this year the company has sold 13 older tankers and bulkers, raising 242.2 million dollars.
The Navios fleet consists of 173 vessels, including 81 bulk carriers, 47 containerships and 45 tankers.
A diversified fleet offers flexibility in the face of the volatility in shipping markets. Thus, the US-listed company announced higher revenues and profits in the first quarter.
More specifically, the company said its revenue rose 30.8% to 309.5 million dollars, in the period of January-March 2023, compared with 236.6 million dollars in the corresponding period of 2022. Profits totaled 99.16 million dollars in the first quarter, up 15.8%, compared with 85.66 million dollars in the same period last year.
