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Navios: New investments and multi-year charters

Navios Maritime Partners implemented investments that exceeded half a billion dollars in the second quarter of 2024, while securing new multi-year charters

The US-listed company spent 501.1 million dollars to boost its fleet with six new vessels and one modern second-hand vessel.

In particular, it ordered four aframax/LR2 tankers, with a capacity of 115,000 dwt each, which will be equipped with scrubbers, paying a total of 263.7 million dollars. Deliveries of the vessels will be completed in the first half of 2028.

At the same time, the shipping company signed a contract for two containerships, with a capacity of 7,900 TEUs each, with scrubbers and methanol-ready specifications.

The cost of the two ships, which will be ready in the first half of 2026, amounted to 212 million dollars.

Meanwhile, Navios Partners exercised an option in June for the purchase of a bulk carrier, type ultra-handymax, with a capacity of 61,339 dwt, which was chartered, for 25.4 million dollars.

The company’s total order book now consists of 28 vessels, after an investment totaling 1.8 billion dollars.

Twenty of them will be tankers and eight container ships.

Navios manages a total fleet of 179 vessels, of which 75 are bulk carriers, 48 containerships and 56 tankers, including tonnage under construction.

157-million-dollar sales

At the same time, Navios Partners continues the sales of older vessels. More specifically, the listed company agreed in July to sell two MR2 product tankers, built in 2009 and one post-panamax, built in 2005, for total gross proceeds of 64.6 million dollars.

The sales are expected to be completed in the second half of 2024.

Navios has completed concession agreements for seven vessels, with an average age of 17.1 years, for 157.2 million dollars, since the beginning of the year.