Navios Maritime to buy 2 vessels for $152.5M

By Associated Press
June 24, 2008
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Shipping and logistics company Navios Maritime Holdings Inc. said Tuesday it has agreed to buy two ultra handymax vessels for $152.5 million.

The first vessel is a 2007-built drybulk vessel with a capacity of about 55,728 deadweight tons. The vessel is expected to be delivered by October.

The second is a 58,500 deadweight ton carrier currently under construction. It is expected to be delivered in the first quarter of 2009.

The company said it expects to bring the carriers to the spot market to take advantage of strong short-term drybulk rates.

Handymaxes are some of the smallest drybulk carriers on the seas.
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