A flurry of secondhand supramax deals reportedly includes a pair of 15-year-old sister ships divested by habitual seller Navios Maritime Partners.
Brokers report that the Angeliki Frangou company has obtained $15m each for the Chinese-built 58,100-dwt Navios Christine B and Navios Celestial (both built 2009).
Navios Partners, a giant, US-listed owner and operator of about 180 vessels on the water or under construction, does not discuss commercial transactions outside official statements.
The Navios Christine B, however, was known in broker circles to be circulating for sale last week amid several reported deals in an environment of firm supramax values.
In another Greek supramax sale, Flynn Ventures is said to have offloaded the 58,000-dwt Archagelos Michael (built 2010) to unidentified Italian buyers for between $13m and $13.85m.
Selling ships is nothing unusual for Navios Partners.
It has already confirmed divesting 27 bulkers, tankers or container ships since the summer of 2022 — when Frangou formed Navios Partners to bring the fleets of former affiliates Navios Maritime Holdings, Navios Maritime Containers and Navios Maritime Acquisition under the same roof.
The tally of the sales will rise to 30 if Navios eventually confirms divesting the Navios Christine B, the Navios Celestial and the 82,800-dwt Navios Harmony (built 2006) — another vessel that the company was reported to be selling in February in a deal that has yet to be confirmed.
Based on Navios Partners statements and broker reports, the company must have raised close to $670m from its 27 confirmed divestments. Including the three unconfirmed ones, the amount would exceed $700m.
The average age of the ships Frangou sold is 17 years.
Like other Greek peers, she is using the proceeds to help fund a large newbuilding campaign.
Navios Partners has a $1.6bn investment programme for 16 tankers and 10 boxship newbuildings. Employment worth $1.5bn is already lined up for most of these vessels.
The main yard it has picked is Zhoushan Changhong International Shipyard in China, where it builds most of its container ships and all the 10 LR2 product tankers it has on order, including units ready for propulsion with LNG or methanol.
Frangou also has a brace of MR2 product tanker newbuildings at Imabari Shipbuilding.
