Navios Group, composed of three New York Stock Exchange-listed affiliates - Navios Maritime Holdings Inc., Navios Maritime Acquisition Corp., and Navios Maritime Partners L.P. - said a new company, Navios Europe, has been formed as the next step in concluding a deal with HSH Nordbank, first announced in April, to acquire five container vessels and five product tankers from debtors of HSH.
This month Navios Europe arranged technical and commercial
management for five of the 10 vessels. The 2,007-TEU Esperanza N
and 2,824-TEU Harmony N
have been delivered and three tankers are slated for delivery by the end of September.
Ownership of Navios Europe is 47.5 percent each by Navios Holdings and Navios Acquisition and 5 percent by Navios Partners. - Chris Dupin