Navios Partners has decided to buy two new liquified natural gas (LNG) dual fuel 7,700 TEU container vessels for a total purchase price of US$241.2 million.
The two newbuildings can run on both LNG and conventional marine fuels.
Their delivery is expected to take place in the fourth quarter of 2024, with the closing of the transaction depending on the completion of the customary documentation.
At the same time, Navios Partners received a two-month option for two additional LNG dual-fuel container vessels with a capacity of 7,700 TEU at the same terms, delivering in the second quarter of 2025.
It should be noted that the ships ordered have been chartered-out for 12 years, with an average net rate of US$42,288 per day.
The charter agreement provides for de-escalation of payments as shown below:
In addition, the charterer has the option to extend the charter for an additional two years with a net rate of US$24,875 per day.
In view of this agreement, the charterer agreed to modify the existing charters on two 6,800 TEU container vessels scheduled to expire in the fourth quarter of 2023.
Following the amendment to the terms, the charter period will be extended for seven months to US$43,944 net per day.
However, if Navios Partners exercises its existing option to extend the charter period for five years (with a net rate of US$21,083 per day), the charter period will also be extended for eight and one-half months to US$30,119 net per day.
