Navios to acquire new Capesize vessels

Navios Maritime Holdings, Greece, has reached an agreement to acquire two Capesize vessels, currently under construction at a South Korean Shipyard.

The vessels will be delivered in the second half of 2010.

Angeliki Frangou, Chairman and CEO of Navios Holdings said that the Piraeus-based company had acquired a total of six newbuild Capesize vessels and had refinanced three existing Capesizes.

The aggregate nominal purchase price for the two new vessels will be approximately US$141.5 million.

The vessels will be employed under existing long-term charter-out contracts with an average length of ten years.
 

Source: Baird Maritime