The largest shipping company listed on the American stock exchange is created by Aggeliki Frangou with the proposed merger of Navios Maritime Partners L.P. with Navios Maritime Acquisition Corp ..
The new company will have a fleet of more than 140 vessels with a total carrying capacity of 15 million dwt which will be active in all three leading markets (bulk dry, cargo, container and tanker shipping) with 15 different types of vessels and serving more than 10 end markets.
According to the relevant announcements, each shareholder of Navios Acquisition will receive 0.1275 common units of Navios Partners for each share of Navios Acquisition.
In a statement, Aggeliki Frangou, president and CEO of both companies, stressed that the merger will create a stronger, more resilient business entity, mitigating the cyclicality of the industry and being able to take advantage of opportunities throughout the shipping industry, and provides additional returns to shareholders.
The leverage ratio of the new company is at 35% while the current value of the fleet is estimated at 4.2 billion. $ while the value of the new company (enterprise value) is estimated at 2.25 billion dollars. With contracted revenues of 1.6 billion. $ 47,634 available days of fleet employment in 2022 the company is very well placed in the market in order to take advantage of the strong freight market in bulk cargo and the future development of the tanker market concluded Ms. Φράγκου.
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