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Navios Maritime Containers Closes USD 11.78m Acquisition of Containership.

M2 EQUITYBITES-March 15, 2018-Navios Maritime Containers Closes USD 11.78m Acquisition of Containership

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15 March 2018 - Monaco-based container sector growth vehicle Navios Maritime Containers Inc. (OTC: NMCI) has closed the acquisition of a 2010-built, 4,250 TEU containership for USD 11.78m, the company said.

This vessel is expected to be delivered in 1Q18.

Navios Containers said it expects to finance the acquisition with cash on its balance sheet and USD 6m from an existing credit facility.

Following the acquisition, Navios Containers will own 22 vessels, totaling 93,130 TEU, with a current average fleet age of 9.8 years.

Navios Containers has chartered-out 56.5% of its available days for 2018 and 18.7% of its available days for 2019.

Clarksons' quarterly report published in February 2018 provides the following daily rates: USD 10,000 and USD 9,000 for 4,500 TEU and 3,500 TEU vessels, respectively.

The EBITDA calculations assume normal operational fleet performance and (b) operating expenses in line with the management agreement and normal operations.

These assumptions are forward-looking statements subject to risks and uncertainties, including those discussed below.

Consequently, no assurance can be provided that the assumptions used in calculating EBITDA will prove to be correct, and the EBITDA actually achieved could be materially different than the expected amounts above.

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Date:Mar 15, 2018
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