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Subject:  Navios JV Date:  4/22/2013  7:35 PM
Author:  Hohum777 Number:  2859 of 3746

Navios Maritime Holdings (NM) and Navios Maritime Acquisition Corp (NNA) are forming a joint
venture entity to acquire 10 vessels (5 Product tankers and 5 Container vessels) from HSH Nordbank.

HSH Nordbank provides a majority of the financing, but the deal is front-loaded to pay the
bank loan first with 80% of the cash flows. I can see the 5 Product tankers getting
profitable charters here. Not so sure on the container vessels. The 10 vessels are all
second-hand vessels.
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