The Maritime Investment Fund, a new shipping fund, and an arm of Navigare Capital Partners, expands it fleets by acquiring three container ships, according to a report by Shipping watch. This is the first row of container ships in the new shipping fund’s existing fleet of tankers and dry bulk vessels.
The Acquisition
Navigare Capital Partners acquires three second-hand container ships to expand its shipping fleet. This acquisition adds up a new variety of shipping vessels to their fleet as it expects a prospective market from its effective operation.
The ships were bought from Greece’s Oceanbulk Carriers and were built in South Korea in the year 2015. Each vessel has a capacity of 10000 teu with roughly two years into operation since it was built. The cost of the acquisition is not confirmed by Navigare Capital Partners, but Shipping Watch reports that the company had paid USD 80-85 million.
The vessels are categorised as Neo-Panamax vessels and is ideal to serve the growing container market. Henrik Ramskov, co-owner and managing partner of Navigare Capital Partners says, “We feel that container remains reasonably priced in terms of second-hand vessels. The size we’ve decided to enter holds strong potential going forward, not least due to the new Panama Canal, for which they fit well”.
Present contracts
Of the three container ships acquired, two are under existing contract with French container carrier CMA CGM Mekong and CMA CGM Ganges. While the third container ship with Hull no. 1170, was resold by the Chinese yard, Yangzijang, as the original buyer was not able to fund the delivery order.
The two ships are expected to be delivered within the year end, and the third one by the first quarter 2018. Though their delivery is yet to be made, Ramskov says that the company has already made plans for their field operations.
Future watch
This acquisition expands the Maritime Investment Fund’s fleet to a total of seven vessels. Navigare Capital Partners is an active participant in shipping investments and is likely to continue in future.
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Shipping Watch
