Navios Maritime bags Rickmers Maritime boxship fleet

Rickmers Maritime’s entire container ship fleet is to be bought by Navios Maritime Partners in a US$113 million deal.

Singapore-listed trust Rickmers Maritime has entered into an agreement with Navios Partners Containers Inc and Navios Partners Containers Finance Inc for the conditional sale of its fleet of 14 container ships, a filing to the Singapore Stock Exchange said.

The agreement comes on the back of a statement by Rickmers Maritime Trust that it would close the trust after failing to find new investors.

Angeliki Frangou, chairman and chief executive of Navios Partners, said: "We are pleased to announce the agreement for the acquisition of 14 container vessels from Rickmers Maritime. We anticipate acquiring five 4,250 teu vessels on 15 May 2017. 

“These vessels are employed on charters that have staggered expirations in 2018 and early 2019 at a net daily charter rate of $26,850."

"Our operating platform was attractive to the Trust and its lending banks because of our disciplined technical and commercial management and favorable operating costs.

“This acquisition demonstrates our ability to source proprietary deals, and we are continuing to seek exposure to the container sector.”

The fleet consists of 11 boxships of 4,250 teu and three 3,450 teu vessels. The average age of the fleet is 9.5 years.