Greece’s Navios Maritime Partners has confirmed an order for two LNG dual-fuel container ships that will bring in a staggering $370m in charter hire over 12 years.

The New York-listed company said the 7,700-teu vessels are costing $241.2m in total.

Delivery is set for the fourth quarter of 2024.

New York-listed Navios Partners has not named the shipyard, but TradeWinds has reported the owner was close to sealing a deal for up to six vessels in the series at South Korea’s HJ Shipbuilding & Construction (HJSC), formerly Hanjin Heavy Industries & Construction.

The Pireaus-based shipowner said it has two months to decide on options for two more vessels, which would be delivered in the second quarter of 2025.

The two firm vessels have been fixed to an unnamed charterer until 2026 at an average rate of $42,288 per day, Navios Partners said.

The deals start at $57,213 per day up to year three, and then taper off to $24,875 by the final two years.

The charterer has an option to extend the contracts for two more years at this final level.

The contracts indicate the big rates charterers need to pay to secure tonnage, even over such a long period.

Existing deals amended

In connection with the deal, the counterparty is extending existing charters for two 6,800-teu Navios container ships currently expiring in the fourth quarter of 2023.

This term will now run for seven more months at $43,944 per day.

But Navios Partners has an existing option to stretch the deal for five years at $21,083.

If this is declared, the terms will be extended by eight and a half months at $30,119.