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Sale and Purchase
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Latest From Sale and Purchase
Partnership posts improved net income from continuing operations of $8.7m for the second quarter
The Navios Group tanker owner acquired seven feeder containerships, as well as receiving $8.9m in cash, following the liquidation of joint venture vehicle Navios Europe II at the end of June
The company, formerly known as Diana Containerships, now owns four aframax tankers with only one remaining panamax container vessel
Depending on market conditions going forward, it may look to exercise purchase options on previous leaseback deals, chief executive says
The company says it will resume its acquisitions of secondhand vessels, which had been put on hold in the first half of the year because of dismal market conditions, if it sees ‘compelling’ opportunities
Navios chief executive Ms Frangou said the partnership could consider restoring a larger dividend ‘if the market recovers and has a sustainable visibility of cash flow’
Ardmore recently rejected a takeover bid from Hafnia and said the benefits of consolidation in the medium-range market were being overplayed
Proceeds from the vessel sales would be kept in reserve, used to pare down debt, or buy back shares, company executives said
The US-listed owner hopes the deal will increase long-term contracted revenue by more than $150m
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