A few days after reportedly selling two of its oldest tankers, Navios Maritime Partners has apparently resumed divesting its vintage bulkers with the sale of a 19-year-old post-panamax.
According to several brokers in Greece and the US, the Angeliki Frangou-led company is shaking out the 87,100-dwt Navios Apollon I (built 2005) for about $13m.
Unadjusted for inflation, that is almost the same amount that Frangou spent to acquire the ship more than six years ago from Singapore-based Pacific Carriers.
The Navios Apollon I had been on a time charter that expired in June and was earning the US-listed company $17,100 per day. Built at IHI in Japan, the ship is scheduled to pass special survey next summer.
The Navios Apollon I is one of the seven oldest units in the giant fleet of nearly 180 bulkers, tankers and container ships that Navios owns and operates.
The septet in question was built in 2005 and consists of the Navios Apollon I, five panamaxes and a capesize.
Navios now looks set to get rid of them as part of a fleet renewal campaign of secondhand sales and newbuilding orders that has been going on for two years — ever since Frangou formed Navios Maritime Partners by bringing under the same roof the fleets of former affiliates Navios Maritime Holdings, Navios Maritime Containers and Navios Maritime Acquisition.
Navios has been so busy selling ships that its moves are sometimes hard to keep track of.
Between the summer of 2022 and May 2024, the company raised about $680m from 28 confirmed divestments of bulkers, tankers and container ships.
The real extent of its sale campaign, however, is probably bigger.
Brokers have linked Navios with eight other sales this year, which the company has not confirmed yet — either because they are not true or have not been completed yet.
These eight unconfirmed sales concern five bulkers, two tankers and one container ship.
The bulkers are the Navios Apollon I and 76,600-dwt Navios Taurus (built 2005), as well as the 82,800-dwt Navios Harmony (built 2006) and 58,100-dwt sister ships Navios Celestial and Navios Christine B (both built 2009).
The tankers are the 50,000-dwt Nave Equator and Nave Orbit, and the container ship is the 4,253-teu Navios Lapis (all built 2009).
If Navios eventually confirms all these eight additional deals, its sales campaign will extend to 36 ships for total gross proceeds of about $820m.
