Navios Holdings Acquires Sea Victory

The seaborne shipping and logistics company Navios Maritime Holdings agreed to acquire a former chartered-in vessel, the Sea Victory (TBN Navios Victory), a 2014-built Panamax vessel of 77,095 dwt, for a purchase price of $14.5 million.

The acquisition is expected to be completed in Q3 2019, said the shipping firm focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.

Navios sold to an unrelated third party the Navios Equator Prosper, a 2000-built Capesize vessel of 171,191 dwt, for a total net sale price of $11.5 million, paid in cash early this month.

In April and May 2019, Navios agreed to sell to unrelated third parties the Navios Mercator, a 2002-built Ultra Handymax vessel of 53,553 dwt for a total net sale price of $6.7 million and the Navios Vector, a 2002-built Ultra Handymax vessel of 50,296 dwt for a total net sale price of $6.9 million, in each case to be paid in cash. Closing is expected in Q2 and Q3 of 2019.

Navios Holdings controls a fleet of 60 vessels (including two vessels expected to be sold) totaling 6.2 million dwt, of which 33 are owned and 27 are chartered-in under long-term charters. The fleet consists of 18 Capesize, 28 Panamax, 12 Ultra-Handymax and two Handysize vessels, with an average age of 7.7 years, basis fully delivered fleet.

As of May 20, 2019, Navios Holdings has chartered-out 82.6% of available days for the remaining nine months of 2019, out of which 42.9% are chartered-out on fixed rate and 39.7% on index. The average contracted daily charter-in rate for the long-term charter-in vessels for the remaining nine months of 2019 is $13,852 per day.