Navios Maritime Containers, Inc. (NASDAQ: NMCI) was founded on April 28, 2017 and is headquartered in Monte Carlo, Michigan, USA, with 2 full-time employees (9/5/2018). It is a growth-oriented company International shipowners and container ship operators.
Navios Maritime Containers (NMCI):
The ordinary shares of Navios Maritime Containers Inc. (which will be converted into the entity described in this article) have been trading on the Norwegian Over-the-Counter List (OTC) market, a subsidiary of the Norwegian Securities Dealers Association, since June 12, 2017, under the stock code: NMCI. As of August 31, 2018, the closing price of Navios Maritime Containers Inc.’s common stock was 126.21 Norwegian kroner (“NOK”) per share, equivalent to approximately $15.18 per share.
Navios Maritime Containers LP was established in April 2017 by Navios Holdings, which owns, operates/manages one of the largest shipping fleets in order to take advantage of acquisition and chartering opportunities in the container shipping industry.
Navios Maritime Containers obtains income by leasing its ships to leading shipping companies for fixed rents and fixed periods. According to the terms of the charter, Navios provides crew and technical management, while the charterer is usually responsible for ensuring cargo, fuel costs and voyage costs.
The proceeds from the sale will be used to acquire five container ships and include one container ship expected to be delivered in the third or fourth quarter of 2018. Navios Maritime will increase the company’s fleet to 31 ships. The carrying capacity is 170,901 TEU, and the average age of the ship is 10 years. In addition, Navios Maritime can also choose to purchase four additional container ships, which will further expand its fleet and capacity.
Navios Group has focused on its strategy of expanding its container industry platform since 2013, and established its core asset base in 2017 with a high cost performance. The company believes that this is a favorable opportunity to continue to expand the container ship industry. By acquiring high-quality second-hand ships, the company has seen attractive job opportunities. At present, the price of container ships is still far below its 15-year historical average. The time charter market for container ships began to show signs of improvement in 2017, and this trend continued in the first half of 2018.
Navios Maritime Containers (NMCI) investment:
Navios Maritime Containers, Inc. (NASDAQ: NMCI) submitted its IPO prospectus on 6/15/2018. After several delays, it landed on Nasdaq in December 2018 with a planned issue price of 18.00-20.00 US dollars. The actual issue price was US$4.5, 5,300,000 shares were issued, and US$23.85 million was raised. JP Morgan / BofA Merrill Lynch / Citigroup / Clarksons Platou Securities / BNP PARIBAS were jointly underwritten.