Global vertically-integrated seaborne shipping and logistics company Navios Maritime Holdings Inc. (Navios Holdings) has announced that on March 18 it sold the Navios Aurora II, a 2009 South Korean-built Capesize vessel with a capacity of 169,031 dwt to Greece-based Navios Maritime Partners L.P (Navios Partners) for $110 million.
The $110 million purchase price is being paid as follows: $90 million in cash and the $20 million balance through the receipt of 1,174,219 common units of Navios Partners. Navios Holdings intends to use the proceeds from the sale of this vessel for operating purposes, such as repayment of debts or reinvestment in vessels.