Navios Maritime Partners Entrusts Rickmers Fleet to Affiliate

zoomIllustration; Image Courtesy: Rickmers Maritime Greek shipowner Navios Maritime Partners plans to transfer the 14-vessel container fleet acquired from Rickmers Maritime to its affiliate Navios Maritime Containers Inc. The company expects to carry out the transfer at cost of USD 5 million and an investment of USD 30 million in return for equity. As disclosed, Navios Partners will also receive a warrant, with a five-year term, exercisable for an additional 6.8% equity interest in NMCI. In line with the terms of the deal, Navios Maritime Holdings is also expected to invest USD 5 million in exchange for equity, and receive a warrant, with a five-year term, exercisable for an additional 1.7% equity interest in NMCI. The vessels from the fleet are to kick off delivery starting the week of May 15, 2017. The acquisition is still subject to a number of conditions, and no assurance can be provided that the acquisition will close at all or in part, the company added.