Navios Maritime acquires two ultra handymax vessels

Navios Maritime Holdings has entered into agreements to acquire two ultra handymax vessels for fleet in Greece.

Total consideration for the vessels is approximately US$152.5 million. The first vessel is a 2007-built, 55,728DWT, ultra handymax built in Japan. The vessel is expected to be delivered by October of 2008. The second vessel is a 58,500DWT, ultra handymax under construction at Tsuneishi Shipyard's Cebu facility in the Philippines. The vessel is expected to be delivered in the first quarter of 2009.
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