The Navios Maritime Partners deal-making machine has cranked out yet another transaction, with brokers reporting the US-listed shipping giant as in the process of selling a 19-year-old panamax.
The ship in question is the 75,600-dwt Navios Anthos (built 2004), which is said to be changing hands for $11.25m.
The New York-listed owner and operator of more than 170 ships does not discuss commercial matters outside official stock exchange announcements.
A sale of the ship, however, would be well in line with the company’s strategy.
Ever since becoming the shipping giant it is today, following the acquisition of affiliates Navios Maritime Containers and Navios Maritime Acquisition, Navios Partners has engaged in a large-scale fleet recycling drive, shaking out older tonnage while ordering a raft of newbuildings.
As part of that strategy, Angeliki Frangou-controlled Navios Partners has confirmed selling 17 bulkers, tankers and boxships since June last year.
The Navios Anthos looks like a prime candidate to have become sale number 18.
The Japanese-built vessel is one of the four oldest bulkers in the Navios fleet.
According to the latest official fleet list published by the company in its 2022 annual report, the Navios Anthos was also the only Navios Partners vessel not earning any money, undergoing scheduled repairs as of 13 March.
The Navios Anthos would also have to pass special survey next year, just like the other two panamax oldies in the company’s fleet — the 75,700-dwt Navios Hyperion and 76,600-dwt Navios Orbiter (both built 2004).
With economic figures out of China suggesting recovery there is getting traction, the moment seems opportune to sell.
“There is a positive sentiment moving forward for the upcoming months spreading around the market,” Doric Shipbrokers said in its latest weekly report on 21 April
“Whereas a few weeks ago owners were stating their prices… with fingers crossed hoping to get some traction from buyers, the newfound optimism has put some bounce back in sellers’ step and bolstered their position at the negotiating table,” Doric added.
Laskaridis in selling mood
Navios Partners is not the only Greek company benefiting from the improved mood.
Panos Laskaridis-controlled Lavinia Bulk is said to be in talks to sell a bulker for the first time in years.
Several brokers report that a $25.5m deal has already been done to offload the 63,200-dwt Diomidis (built 2015), one of Lavinia’s 10 ultramaxes, to German interests.
Other market sources in Athens, however, say that no transaction has actually been concluded yet and counterparties are still at the stage of talks.
