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Navios Maritime Partners Acquires 36-Vessel Drybulk Fleet.

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MANews-(C)2009-2022

Greece-based dry cargo and tanker vessels owner and operator Navios Maritime Partners L.P. (NYSE: NMM) has agreed to acquire a 36-vessel drybulk fleet for a gross purchase price of USD 835m, including the assumption of USD 441.6m of bank liabilities, bareboat obligations and finance leasing obligations, subject to debt and working capital adjustments, from Greece-based Navios Maritime Holdings Inc. (NYSE: NM), the company said.

The 36-vessel drybulk fleet consists of 26 owned vessels and 10 chartered-in vessels (all with purchase options) with a total capacity of 3.9m dwt and an average age of 9.6 years.

Assuming Clarksons' 1-YR TC rate (as of July 22, 2022) and certain operating cost assumptions, the acquired vessels are expected to generate approximately USD 164m of estimated EBITDA and USD 81.5m of estimated free cash in 2023.

Following the completion of the transaction, Navios Partners will own and operate a fleet comprised of 90 drybulk vessels, 49 containerships and 49 tanker vessels, including 22 newbuilding vessels to be...

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