Navios Maritime Partners (NMM) issued a Press release last week (10/16). Some developments listed
- Sale of 2 Panamax bulkers and an older VLCC
- Additional charter coverage for existing vessels
- Took delivery of a newbuild MR2 - vessel has charter coverage
On the additional charter coverage: container vessels - good, given the age of the vessels. The two tankers - ok. $19K daily is an improvement from NMM medium term fixing prior $13K - $15K daily. VLCC sale? Decent price. If NMM are selling to avoid the 3rd dry dock then it is a good move (3rd dry dock has traditionally been the mark of “modern” tag expiring - and less able to fix on medium or long-term charters) [Edit: I saw a recent entry of a Navios related vessel sale - the VLCC is Chinese built. Not sure why these VLCC owners are showing panic wrt Chinese VLCC. I am thinking there are more VLCC serving Chinese crude imports than VLCCs serving US crude exports]