Navios Partners, a NYSE-listed company led by Angeliki Frangou, that has joined Greek shipowners in returning to the Capesize bulk carrier newbuilding market, while also having sold two mid-aged Very Large Crude Carriers (VLCCs).
According to Navios’s Q4 2025 financial report, the company reached an agreement in December 2025 to acquire two Capesize bulk carriers built by Japanese shipyards and equipped with scrubbers through a 12-year bareboat charter contract.
The new vessels are scheduled for delivery before the first quarter of 2029. The company has an option to purchase the vessels from the end of the fourth year until the end of the charter period. If this option is exercised at the end of the 12-year term, the total purchase price under the bareboat charter agreement would be approximately US$134 million.
The quarterly financial report shows that Navios is currently advancing a new shipbuilding program worth a total of US$1.9 billion, including 2 bulk carriers, 8 container ships and 16 oil tankers.
In recent months, Greek shipowners have significantly increased their newbuilding activity in the Capesize bulk carrier sector, with shipowners such as Maran Dry, Capital Group, and Seanergy Maritime placing orders.
In addition to acquiring vessels under construction to reposition itself in the Capesize bulk carrier market, Navios has agreed to sell two VLCCs built in 2009 and 2011 respectively, for a total price of approximately US$137 million. Delivery to the new owner is expected in the second quarter of 2026. Since 2025, the company has continued its fleet renewal strategy, having already sold 14 vessels with an average age of 17.9 years.
Regarding charter agreements, the quarterly financial report shows that Navios has secured US$261 million in contract revenue for 11 vessels across its container ship, tanker, and dry bulk carrier businesses through newly signed long-term charter agreements. Including these new charter agreements, Navios’ cumulative contract revenue will reach US$3.8 billion by 2037.
Currently, Navios owns and operates 67 bulk carriers, 51 container ships, and 53 tankers, including ships under construction. The company achieved revenue of US$366 million and net profit of US$117 million in the fourth quarter of 2025; full-year 2025 revenue reached US$1.3 billion, roughly flat compared to 2024, but net profit decreased from US$367 million to US$285 million. The fleet achieved a consolidated time charter equivalent of US$25,567 in the fourth quarter of 2025, an increase from US$23,205 in the same period of the previous year.