Navios Maritime Partners (Navios Partners) and Navios Maritime Acquisition Corp. (Navios Acquisition) have announced a deal wo form the largest US publically listed shipping when measured by vessel fleet.
In a statement, the parties said the new company will have over 140 vessels with approximately an aggregate 15 million deadweight tonnes in capacity.
Angeliki Frangou, Chairwoman and CEO, Navios Partners, said, “We are announcing a transformative transaction.
“The combined entity will be the largest U.S. publicly-listed shipping company in terms of vessel count, with 15 vessel types diversified across three segments, servicing more than 10 end markets.
“About one-third of our fleet will be in each of the dry bulk, containership and tanker segment. We believe that this combination will result in a stronger, more resilient entity, mitigating sector specific cyclicality.
“This should enable us to capitalize on opportunities throughout the industry and provide even returns to our stakeholders across cycles.
“This combination of two companies with similar core values and beliefs, as it relates to our service offerings, will allow us to continue to deliver the high-quality service that our customers expect.
“We have a proven model to execute seamless combinations, as evidenced by our prior successful roll-up transactions, and we anticipate a smooth execution for this combination as well.”