Navios Maritime acquired 16 ships

Angeliki Frangou led Navios Maritime Holdings spin-offs have acquired from 16 ships from affiliate company Navios Europe I which is liquidated. Navios Maritime Partners has acquired 11 containerships and bulk carriers. Navios Maritime Acquisition has acquired 5 product carriers. In October 2019, Angeliki Frangou explained that the affiliate Navios Europe I could be dissolved by the end of 2019. Navios Maritime Partners was owed $48.2 million and Navios Maritime Acquisition was owed $32.3 million by affiliate Navios Europe I. Furthermore, Navios Maritime Partners has struck a deal to buy four (4) bulk carriers for $37 million from companies affiliated to Angeliki Frangou. $37 million loan is financed with annual interest of LIBOR plus 475 basis points and maturity in 2022. In another deal, Navios Maritime Partners bareboat charter-in two (2) newbuilding 81K DWT kamsarmax bulk carriers for 10 years with an option to buy after four years. Kamsarmax bulk carriers will be delivered in Q2 and Q3 of 2021. Currently, Navios Maritime Partners has a fleet of 32 dry bulk carriers and 5 containerships.