Navios Purchases 4 LR2 Tankers for $250 Million

Angeliki Frangou’s Navios Maritime Companions (NYSE: NMM) has agreed to buy 4 newbuild 115,000 dwt LR2 tankers.

The vessels are being acquired for a purchase order worth of $58.5 million every, plus $4.2 million in extra options and enhancements, making for a complete funding of $250.8 million. Navios stated the tankers have been designed with the newest know-how to optimize effectivity.

Supply is predicted in 2024 and Q1 2025.

The 2 vessels delivering in 2024 have been chartered-out to an “funding grade charterer” for a mean interval of 60 months, at a web charge of $25,576 per day. The charterer has an choice to increase the constitution for an extra 5 one-year choices at charges rising by $1,234 per day every year.

The constitution additionally has the choice to constitution one or each of the 2 extra tankers on equivalent phrases. The choice will be exercised by mid-October 2022.

Navios Maritime Companions is a world proprietor and operator of dry cargo ships, tankers and containerships, working 142 vessels with a carrying capability of 14.6 million dwt and 215,222 TEU. The LR2 newbuildings would be the first LR2s in its fleet.

LR2-type tankers have coated tanks permitting them to hold each soiled (crude oil HFO) and clear (refined petroleum merchandise like gasoline) cargoes.

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