Navios Partners swoops on Japanese MR newbuilds

by Patrick Deenik / Marine Traffic
Greece’s Navios Maritime Partners is bolstering its tanker fleet with a deal for two additional Japanese MR2 product carrier newbuilds.

The Angeliki Frangou-led shipowner is adding the duo from an unrelated third party under a 10-year bareboat charter with an option attached to acquire the vessels after four years into the contract. 

The ships should deliver during the first half of 2027, and assuming the exercise of the option at the end of the 10-year period, the bareboat agreements reflect an implied price of about $41.5m per vessel and an implied effective interest rate of around 7%, Navios Partners said. 

The New York-listed firm struck a similar deal in the second quarter for a pair of MR2 newbuilds for delivery during the second half of 2026 and the first half of 2027. The interest rate is the same, while the implied price was $40.2m each.

Navios Partners has a fleet of 177 ships, consisting of 81 bulk carriers, 47 containerships and 49 tankers, including six aframax/LR2s and six MR2s as well as a dozen boxships under construction. Earlier this month, the company also sealed a deal to buy the 2019-built and chartered in kamsarmax Navios Horizon I for $28m. The 81,692 dwt ship should deliver in the third quarter of this year.