![Navios Partners: Strong demand for bulk cargo ships and containerships](https://www.ot.gr/wp-content/uploads/2021/07/navios.jpg)
The management of Navios Maritime Partners, which yesterday announced revenues of $ 152 million and profits of $ 99.9 million for the second quarter of 2021, sees strong demand for both bulk cargo and containerships.
The results of the second quarter are not directly comparable with the corresponding period of 2020 as in April this year Navios Partners incorporated Navios Maritime Containers.
At the same time, the company announced that it placed an order for the construction of six containerships, while it bought five other bulk carriers and sold two.
In particular, Navios Partners agreed to buy six new containerships (four plus two on option) with a carrying capacity of 5,300 TEU each for $ 61.6 million each. The ships are expected to be delivered between the second half of 2023 and 2024.
Taking into account all transactions, the company’s fleet will consist of 98 ships, of which 55 are bulk carriers and 43 are container ships.
“Our diversified fleet protects us from the cyclicality of the industry”, stressed the president and CEO of the company Mrs. Aggeliki Frangou to the analysts and added that the available days of operation of the fleet by charter agreements ensure future revenues of 1.1 billion dollars.
Revenues from existing charter contracts for the second half of 2021 are also expected to exceed the total estimated fleet costs for the same period by $ 47.8 million.
Regarding the future, the management of Navios Partners estimates that the demand for bulk cargo is expected to exceed the net increase of the fleet in both 2021 and 2022.
Demand for the three main shipments of iron ore, coal and grain for the second half of 2021 is projected to increase by 7% compared to the first half while net fleet growth is projected to be 3.3% this year and only 1.2% in 2022.
Also as concerns containerships, fleet growth is 4.5% this year and 2.6% for 2022. Even in this environment of high demand, ship dismantling will continue as 10.5% of the fleet is 20 years old and over.
In conclusion, fundamentally positive demand, mainly due to the start of economic activity around the world, along with the reduced availability of the fleet, will continue to support the shipping industry in both bulk dry and container shipping.
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