Navios Maritime Containers Inc. Q4 2017 Earnings Presentation January 29, 2018
Forward Looking Statements This presentation contains forward-looking statements concerning future events, including future contracted revenues and rates, EBITDA, future available days, future financial performance of the fleet, timing of vessel deliveries, and Navios Containers' growth strategy and measures to implement such strategy; including future vessel acquisitions and the ability to secure or refinance related financing, the further growth of our containership fleet, and entering into further time charters. Words such as may, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Containers at the time these statements were made. Although Navios Containers believes that the expectations reflected in such forwardlooking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Containers. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks relating to the future vessel acquisitions, the quality of the fleet and the market for the fleet vessels, the uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters, our ability to maximize the use of our vessels, expected demand in the container shipping sector in general, fluctuations in charter rates for container carrier vessels, the aging of our fleet and resultant increases in operations costs, the loss of any customer or charter or vessel, the financial condition of our customers, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, increases in costs and expenses, including but not limited to: crew wages, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance, and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Containers operates, and risks associated with global operations. Navios Containers expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Containers' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Containers makes no prediction or statement about the performance of its common stock. 2
NMCI Within the Navios Group Scale, experience and relationships Global brand, industry relationships and reputation Economies of scale of ~ 200 vessel fleet owned/managed Ship management within the public company cost center vs profit center Track record of value creation through the cycle Why important for NMCI? Access to deal flow Professional management team Alignment of interests Fixed OpEx Navios Maritime Acquisition Corporation (NYSE: NNA) 36 vessels - 26 product tankers, 8 VLCCs, 2 chemical tankers Navios Maritime Midstream Partners L.P. (NYSE: NAP) 6 VLCCs Navios Maritime Containers Inc. (N-OTC:NMCI) 21 containerships Navios Maritime Partners L.P. Navios Maritime Holdings Inc. (NYSE: NM) 64 dry bulk vessels: 38 owned, 26 chartered-in Special Purpose Vehicles Navios Europe I & II 24 vessels: 12 containerships, 5 Panamax, 2 Handymax, 5 Product Tankers (NYSE: NMM) 38 vessels: 13 Capes, 15 Panamaxes, 3 Ultra- Handymaxes, 7 containerships Navios South American Logistics Inc. Port Terminal facilities, barging & cabotage 3
Ownership Structure Navios Group (33.7% NMM / 3.4% NM) Common Shareholders 37.1% Interest 62.9% Interest Navios Maritime Containers Inc. (OSLO N-OTC: NMCI) 100% Interest 21 Containerships 4
NMCI: Company Highlights New Growth Vehicle Focused on the Containership Sector New growth vehicle with attractive entry point and clean, low-cost structure Attractive opportunities to buy containerships toward bottom of the cycle Access to distressed deals from banks / operators - available only to select managers Leverage Existing Operating Platform Well Positioned to Grow in Container Market Recovery Strong Sponsor with Seasoned Management Leverage an established large operating platform Economies of scale = ~ 5% lower operating expenditures than the industry (1) Charterers prefer to deal with large, safe and reliable owners Sector poised for recovery: trade growth + high scrapping + lack of new orders Focus on containerships with attractive deployment opportunities in higher growth trades Acquisitions provide free cash flow in current market with significant capital appreciation and yield improvement as market recovers Strong & strategic relationships with banks and other key industry players Management team has average industry experience of 20+ years per person Demonstrated access of Navios Group to debt and equity capital markets Long track record of financial reporting, compliance and investor accountability Navios Group s Containership Vehicle Right of First Refusal for all Containerships (1) Drewry Shipping Consultants Annual Report 2016/2017. Drewry only identifies opex and drydock amortizations, but does not include commercial management or other costs. Based on the 2016 average for vessel operating costs for containership sizes between 3,000 and 6,000 TEU. 5
Contracted Cash Flow Vessels in Fleet Navios Maritime Containers Inc. Platform to Capitalize on Attractive Containership Opportunities NMCI continues to build critical mass 14 ships from RMT 14 vessels / 57,100 TEU 11 x 4,250 TEU 3 x 3,450 TEU Avg age: 10 years 3 ships from Banks 3 vessels / 12,860 TEU 2 x 4,250 TEU 1 x 4,360 TEU Avg age: 8 years 4 ships from German Owner 4 vessels / 18,920 TEU 4 x 4,730 TEU Avg age: 9.5 years Contracted EBITDA ~ $45m Five vessels on TC with staggered expirations ending in Q1 2019 Price: $118.0m Price: $31.2m Contracted EBITDA ~ $70m 4 vessels on TC to CMA/APL through Q2 2020 Price: $96.8m Attractive Return Profile Through Scrap + Contracted EBITDA, with Significant Potential Upside Note: Contracted EBITDA at the time of acquisition assumes $6,100 Opex for the vessels in the fleet G&A assumed to be $685 per vessel per day. Based on 360 operating days and 365 cost days. 6
Recent Developments Seven vessels purchased for a total of $128.0 million - All vessels delivered in Q4 2017 $96.8 million acquisition of four 4,730 TEU containerships - average age of 9.5 years All vessels chartered out at a net rate of $27,156 per day through Q2 2020 $70.0 million expected contracted EBITDA ~ 72% of price $19.75 million acquisition of two 2009-built 4,250 TEU containerships $11.45 million acquisition of one 2010-built 4,360 TEU containership $50.0 million equity issuance Follow-on private placement November 2017 at $5.50 per share issuance price (10% increase compared to the previous issuance) $74.0 million debt financing $50.0 million add-on loan, for acquisition of the four 4,730 TEU vessels Interest: L + 3.85%; $5.6 million quarterly amortization; maturing in November 2019 $24.0 million new loan for acquisition of up to four vessels $18.0 million already drawn for three vessels Interest: L + 3.00%; 7-year profile; maturing in December 2022 Extended maturity of existing $40.0 million and $21.0 million facilities to end of 2019 $121.0 million refinancing of existing $102.7 million facilities Advanced discussions (1) for a new facility maturing 2023 to refinance existing facilities maturing in Q4 2019 Refinancing is expected to reduce debt service requirements for 2018 by 58% (1) No assurances can be provided that the Company will successfully refinance these credit facilities 7
Expected Free Cash Flow Generation FY 2018 150% $48.3 million 60% $9.6 million $20,202 $5,069 $8,086 2018 Breakeven per open day Current Rates 15 Year Average Rates Cash Flow Analysis 2018E ($ Thousands) Current Rates 15 Year Average Rates Contracted Revenues 87,344 87,344 Total Expenses (Opex, G&A and debt service) (103,523) (103,523) Net cash from contracted revenue (16,179) (16,179) Revenue from open days* 25,811 64,485 Free cash generation 9,632 48,306 Open Days 3,192 3,192 Breakeven per open day $5,069 $5,069 15-year average charter rates are expected to provide $48.3 million Free Cash Flow in 2018 Note: Current rate based on Clarksons Platou SIN December 2017 rates of $8,000 per day for 4,250 TEU vessels and $8,500 per day for 3,450 TEU vessels; 15 year average rates; 4,250 TEU $20,759; 3,450 TEU: $17,525 per day. Cash flow generation assumes normal operational performance of current fleet. Rates shown in above tables are weighted to reflect vessel sizes for open days. 8
Strong Asset Coverage NMCI Debt Asset Coverage 1.47 x 2.8 x $336.1 $120.7 $176.9 ($ million) (1) (2) Total Debt Outstanding 12/31/2017 Scrap Value Market Value + Contracted EBITDA 1.47x of facility covered by collateral vessel scrap value 2.8x coverage by collateral vessel value + contracted EBITDA (1) Based on total fleet lightweight tons of 353,801 and an assumed scrap price @ $500 per lwt (2) Appraised value of 21 vessel fleet as of December 2017 9
Liquidity and Debt Maturity Profile December 31, 2017 (US $ 000) Cash (1) $14,501 Debt, net (2) $119,033 50.0 ($ million) Debt Maturity Stockholders Equity 140,718 40.0 Capitalization $259,751 30.0 20.0 31.8 (3) Net Debt / Capitalization 40.2% 10.0 0.0 5.1 2018 2019 2020 2021 2022 (1) Includes restricted cash of $0.3 million as of December 31, 2017 (2) Net of deferred finance fees of $1.6 million (3) Advanced discussions for a new facility maturing 2023 to refinance existing facilities maturing in Q4 2019. No assurances can be provided that the Company will successfully refinance these credit facilities. 10
Summary of Containership Fleet 21 Vessels (89K TEU) Average age of combined fleet (1) : 9.8 years 21 Container Vessels 4 Vessels 4,730 TEU 14 Vessels 4,250 TEU 3 Vessels 3,450 TEU 18,920 TEU 59,610 TEU 10,350 TEU (1) Navios Containers average age based on a dwt basis 11
Fleet and Employment Summary Navios Verde Navios Vermillion Navios Summer Navios Azure Navios Tempo MOL Dominance Navios Felicitas Navios Amarillo Navios Verano Navios Lapis Navios Amaranth MOL Dedication MOL Delight Navios Indigo Navios Spring MOL Destiny MOL Devotion APL Oakland APL L.A APL Denver APL Atlanta $8,006 February 2018 $8,037 February 2018 $8,010 March 2018 $8,106 March 2018 $7,411 April 2018 $26,850 April 2018 $7,431 May 2018 $7,575 May 2018 $9,144 May 2018 $7,604 June 2018 $7,093 July 2018 $26,850 July 2018 $26,850 September 2018 $8,133 October 2018 $8,444 November 2018 $26,850 November 2018 $26,850 February 2019 Charter Coverage FY2018 41.6% $27,156 March 2020 $27,156 April 2020 58.4% $27,156 May 2020 $27,156 June 2020 Fixed days Open days Jan-18 Feb-18 Apr-18 Jun-18 Aug-18 Oct-18 Dec-18 Feb-19 Apr-19 Jun-19 Aug-19 Oct-19 Dec-19 Jan-20 Mar-20 May-20 Jul-20 (1) Daily charter-out rate net of commissions, where applicable. See fleet appendix for further detail. 12
NMCI Fleet Trading in the High Growth Trading Areas Higher trade growth in Intra Asia and Africa N-S favoring NMCI Fleet Trade Growth - NMCI Fleet Deployment (1) Africa N-S 7.2% Intra Asia 6.6% (1) NMCI Fleet voyages for Nov 2017 Jan 2018, trade growth estimate for 2018 13
Economies of Scale Navios Holdings agreed to provide Navios Containers the following: Commercial and Technical Management 10-year agreement Opex - initial rates ~ 5% below the industry average (1) $6,100 per day for 4,250 TEU containerships, fixed for two years $6,100 per day for 3,450 TEU containerships, fixed for two years Administrative Services Reimbursement of allocated G&A costs No other fees and expenses NO additional technical or commercial management fees NO commissions charged for commercial management NO commissions or fees charged for any sale or purchase transaction NO commissions or fees charged for originating any loan or other financing transactions Navios Holdings generates economies of scale from a ~ 200 vessel diverse fleet under management. (1) Drewry Shipping Consultants Annual Report 2016/2017. Drewry only identifies opex and drydock amortizations, but does not include commercial management or other costs. Based on the 2016 average for vessel operating costs for containership sizes between 3,000 and 6,000 TEU. 14
NMCI Q4 2017 Earnings Highlights Figures in $ 000, except active vessels, TCE and available days Earnings Highlights Three Months Ended December 31, 2017 Period from April 28, 2017 (date of inception) to December 31, 2017 Time charter revenue 21,329 39,188 EBITDA 9,917 18,709 Adjusted EBITDA (1) 9,917 19,156 (1) Net Income 1,673 2,638 Adjusted Net Income (1) 1,673 3,085 (1) EPS 0.07 0.14 Adjusted EPS (1) 0.07 0.17 (1) Active Vessels at period end 21 21 Available Days 1,434 2,411 TCE $14,232 $15,730 (1) Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Share for the period from April 28, 2017 (date of inception) to December 31, 2017 exclude $0.4 million relating to the reactivation costs of four laid-up vessels. 15
Balance Sheet Selected Balance Sheet Data (in $ 000) December 31, 2017 Cash & cash equivalents (1) $14,501 Other current assets 6,870 Vessels, net 177,597 Total Assets $266,811 Other current liabilities $7,060 Current portion of long term debt, net 42,499 Long term debt, net of current portion and discount 76,534 Stockholders equity 140,718 Total Liabilities & Stockholders Equity $266,811 Net Debt / Book Capitalization 40.2% (1) Includes restricted cash of $0.3 million as of December 31, 2017 16
Industry Overview
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) Navios Maritime Containers Inc. World Container Trade 1996-2018 World trade growth m TEU 220 200 180 1996 2017 CAGR = 6.9% 2015 2.2% 2016 4.1% 2017 e 5.0% 2018 F 5.0% growth 25% 20% 160 15% 140 120 100 80 5.3% 5.0% 5.0% 4.1% 10% 5% 60 2.2% 0% 40 20-5% 0-10% Trade Growth % World GDP Growth % (RHS) Source : Clarkson Research Services, IMF Oct 2017 18
Containership Sector Orderbook Deliveries 2017 1.15 million TEU delivered; 1.69 million projected (32% non deliveries by TEU); 148 vessels delivered 2016 0.90 million TEU delivered; 1.34 million projected (33% non deliveries by TEU); 131 vessels delivered 2015 1.68 million TEU delivered; 1.89 million projected (11% non deliveries by TEU); 213 vessels delivered 2014 1.49 million TEU delivered; 1.62 million projected ( 8% non deliveries by TEU); 205 vessels delivered 2013 1.35 million TEU delivered; 1.84 million projected (27% non deliveries by TEU); 206 vessels delivered 2012 1.26 million TEU delivered; 1.58 million projected (20% non-deliveries by TEU); 212 vessels delivered 2011 1.21 million TEU delivered; 1.65 million projected (27% non-deliveries by TEU); 193 vessels delivered 2010 1.39 million TEU delivered; 2.24 million projected (38% non-deliveries by TEU); 267 vessels delivered Orderbook by year of delivery: Actual # vessels delivered: 2014 = 205; 2015 = 213; 2016 = 131; 2017 = 148 000 TEU 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Actual nondelivery 437,000 TEU 904 Before non-delivery 1,686 1,667 Actual nondelivery 538,000 1,070 TEU 1,147 2016 2017 2018 2017 2018 2019 As of Jan 1, 2017 As of Jan 1, 2018 Before non-delivery 538 2018 orderbook = 1.7 million TEU (before non deliveries) 2018 estimated deliveries: 1.2 million TEU assuming 30% non delivery rate 0.4 million TEU estimated 2018 scrapping Expected 2018 Net fleet growth ~ 3.7% Source: Clarksons 19
Containership Net Fleet, Age Profile + Historical Scrapping Year Actual Projected Deliveries Scrapping Net Fleet Growth % Non- Delivery Year TEU Demolition Year Total Demolition ( 000 TEU) % of Fleet 2000 15.5 0.35% 2001 36.2 0.73% 2002 68.1 1.23% 2003 25.7 0.42% 2004 8.0 0.12% 2005 2.3 0.03% 2006 23.8 0.29% 2007 20.9 0.22% 2008 101.2 0.93% 2009 378.4 3.07% 2010 132.6 1.02% 2011 77.9 0.55% 2012 334.7 2.17% 2013 444.2 2.72% 2014 372.6 2.16% 2015 193.3 1.05% 2016 654.4 3.30% 2017 397.9 1.98% % of Fleet Year TEU % of Fleet 20.0% 15.0% 10.0% 5.0% 0.0% Fleet Age Profile (% TEU) 9.7% 3.6% 1.1% 25+ yrs 20-24 yrs 15-19 yrs Fleet Period End 2017 1,147 K 1,686 K 32% 2017 398 K 2.0% 2017 (1) 747 K 3.7% 20,808 K 2016 906 K 1,341 K 32% 2016 654 K 3.3% 2016 246 K 1.2% 20,061 K 2015 1,658 K 1,889 K 12% 2015 193 K 1.1% 2015 1,460 K 8.0% 19,815 K 2014 1,513 K 1,624 K 7% 2014 373 K 2.2% 2014 1,138 K 6.6% 18,355 K 2013 1,346 K 1,840 K 27% 2013 444 K 2.7% 2013 888 K 5.4% 17,216 K 2012 1,263 K 1,578 K 20% 2012 335 K 2.2% 2012 914 K 5.9% 16,328 K 2011 1,224 K 1,652 K 26% 2011 78 K 0.5% 2011 1,129 K 7.9% 15,414 K 2010 1,381 K 2,242 K 38% 2010 133 K 1.0% 2010 1,232 K 9.4% 14,284 K 3.00 M TEU 0.40 M = 141 Vessels Scrapped in 2017 2017 Net Fleet Growth 0.75 M = 1.15 M Delivered 0.40 M Scrapped Total Containership Fleet: 5,164 2018 Deliveries: 12 ships, 119K TEU to 1/18/18 Source: Clarksons; Unless noted, all data in TEU; YTD through 12/31/17 (1) Net Fleet Growth YTD reflects deliveries and scrapping through 12/31/17 For the whole fleet that is: 1.15M TEU delivered 0.40M TEU scrapped 20
Improving Fundamentals 2,000-5,100 TEU Sizes
Not all Panamaxes Are the Same Deployment 4,000 5,100 TEU Containerships: Depends on Specifications Pre Panama Canal expansion, main trading route was Far East US (through old Panama Canal locks) Post Canal expansion, deployment in Far East US East Coast declined by 81%: vessels redeployed to different trades after being replaced by wider and larger vessels Redeployment limited due to port restrictions in high growth trading areas (Africa and Intra Asia) Baby Panamax ~260/270 LOA, Draft 12.5 m, Beam 32m Panamax Max Shorter vessels with shallower draft found new deployment in Africa and Intra Asia where limitations in port infrastructure eliminate larger and deeper vessels Less deployment options for longer and deeper draft vessels led to increased scrapping and idle capacity ~290 LOA, Draft 13.5m, Max Beam 32m 88% of the 4-5,100 TEU vessels scrapped since 2015 were Panamax Maxes (94 out of 107 ships) # of vessels 100 80 60 40 20 0 Vessels Scrapped 94 430,895 TEU 13 54,465 TEU Baby panamax Panamax Max Source: Clarksons 22
$ Millions $ Millions Navios Maritime Containers Inc. Discount to Newbuild Price Parity Historical NB Price ($mm) 3.6-3.8K TEU NB, nominal Avg 1996-2017, nominal 3.6-3.8K, infl adj Avg 1996-2017, infl adj 90 35 Discount to NB Parity Scrap value NB parity 3.6-3.8K TEU Discount to NB parity 80 30 70 25 60 Avg. ~$55.6m 20 57% 50 15 59% 40 Avg. ~$44.4m 10 61% 30 5 Scrap value 20 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 NB 5 10 15 20 25 Significant discount to NB parity, even with today`s NB prices around historically low levels Source: Clarksons Platou Securities AS, Shipping Intelligence Network 23
50% 40% 30% 20% 10% 0% Strong Value Potential in Sub-Panamax Segment Orderbook-to-Fleet Ratio by Segment 6% 16% 10% No orderbook for 4,000-5,099 TEU segment 0% 1% 0% 19% 44% 13% 10% 2017 2016 8% 6% 4% 2% 0% 3% 3% 2% Scrapping in % of Fleet by Segment 7% 6% 6% 5% 8% 3% 5% 2% 3% Domino Effect Through Cascading New Panama Canal in 2016 led to: Wide beam Panamax replacing Old Panamax vessels High scrapping incentivized by low TC-rates and high costs due to new IMO regulations Cascading effect from larger modern tonnage, all the way down to Panamax segment Baby Panamaxes have migrated to other trade routes A Panamax is Not a Panamax Old Panamax vessels: Baby Panamax (LOA 260/270, Draft 12.5m, Beam 32m) Versatile ships found in numerous trade routes Panamax Max (LOA 290, Draft 13.5m, Beam 32m) Overpowered and single purpose built Neo Panamax (wide beam) vessels: New Panamax (LOA 360, Draft 15m, Beam 49m) Baby Panamaxes are versatile and found in numerous main trades Source: Clarksons Platou Securities AS, Shipping Intelligence Network, Clarksons Research Services, Alphaliner 24
2,000 to 5,100 TEU Trade: Intra-Asia Outpaces World Intra-Asia trade lane has been one of the fastest growing, outpacing world container trade growth every year since 2013 Currently accounts for 29% of total container trade 2,000 to 5,100 TEU vessels saw an increase of 89% since 2013 in deployment on the Intra-Asia trade lane Intra-Asia Trade Growth 2013 to 2018 2-5,100 TEU Intra-Asia Deployment 70 60 50 40 30 8% 7% 6% 5% 4% 3% # of vessels 350 300 250 200 150 168 89% 317 20 2% 100 10 1% 50 0 2013 2014 2015 2016 2017e 2018f Intra-Asia (M TEU LHS) Intra-Asia (% growth RHS) Global Trade (% growth RHS) 0% 0 Jan 2013 Jan 2018 Source: Clarksons Research 25
New Services Boost Demand for 4,000-5,100 TEU Vessels Line operators new services creates demand for additional ~40 vessels Growing cargo volumes and capacity expansions boosts demand for 4,000 5,100 TEU vessels Line operators in order to increase market share are starting new strings to service their customers Partners Trade Starting date Cosco, Evergreen, Yang Ming North Europe East Med Nov 2017 Cheng Lie, APL Korea, China South East Asia Nov 2017 Cosco China Indonesia Dec 2017 APL, OOCL China Pakistan Dec 2017 WHL, Cosco China West India Jan 2018 WHL, Cosco, IAL, OOCL, SeaCon China East India Jan 2018 PIL China LatAm Jan 2018 Cosco, CMA CGM, Evergreen, OOCL North Europe USEC Apr 2018 Source: Alphaliner ~40 Vessels 26
Negative Fleet Growth in 2,000 to 5,100 TEU Segment Record scrapping in 2016 Cumulative negative fleet growth since 2013 TEU M 0.6 0.4 0.2 0.0 0.4 Scrapping 2013: 94 removed vs 69 delivered 2014: 74 removed vs 40 delivered 2015: 41 removed vs 38 delivered 2016: 124 removed vs 20 delivered 2017: 65 removed vs 28 delivered 0.2 2016 31-Dec-17 Fleet Development (# of vessels) Record 445,000 TEU scrapped in 2016 in 2,000 to 5,100 TEU sector Cumulative since 2013: -203 vessels 0-50 -100 2013 2014 2015 2016 2017-25 -59-62 -166-203 0-50 -100-150 -200-250 2-5.1K TEU Annual Net Fleet Growth (LHS) 2-5.1K TEU Cumulative Net Fleet Growth (RHS) Source: Clarksons * Through 12/31/17 27
Improving Fundamentals for 2,000 to 5,100 TEU Fleet Negative fleet growth YTD 2017 for 2,000 to 5,100 TEU Segment Fleet decreased 11.4% since 2013 Increase in Intra-Asia trade lifts deployment Overall deployment increased by 6.6% since January 2017 Idle capacity decreased by 95% since January 2017 Fleet Size Fleet Deployment Idle Capacity TEU 000 TEU 000 TEU 5,800 5,400 600,000 5,600 3.1% 5,400 500,000 5,200 5,000 400,000 5,000 4,800 6.6% 300,000 4,600 4,600 200,000 4,400 4,200 100,000 4,000 4,200 - Jan 2017 Jan 2018 Jan 2017 Oct 2017 95% Jan 2017 Jan 2018 Source: Clarksons 28
Appendix
Navios Containers Fleet Owned Vessels Vessel Name TEU Built Expiration Date Charter Rate (1) Navios Verano 3,450 2006 May-2018 $9,144 Navios Summer 3,450 2006 Mar-2018 $8,010 Navios Spring 3,450 2007 Nov-2018 $8,444 Navios Vermillion 4,250 2007 Feb-2018 $8,037 Navios Indigo 4,250 2007 Oct-2018 $8,133 Navios Amaranth 4,250 2007 Jul-2018 $7,093 Navios Amarillo 4,250 2007 May-2018 $7,575 Navios Verde 4,250 2007 Feb-2018 $8,006 Navios Azure 4,250 2007 Mar-2018 $8,106 MOL Dominance 4,250 2008 Apr-2018 $26,850 MOL Dedication 4,250 2008 Jul-2018 $26,850 MOL Delight 4,250 2008 Sep-2018 $26,850 MOL Destiny 4,250 2009 Nov-2018 $26,850 MOL Devotion 4,250 2009 Feb-2019 $26,850 Navios Lapis 4,250 2009 Jun-2018 $7,604 Navios Tempo 4,250 2009 Apr-2018 $7,411 Navios Felicitas 4,360 2010 May-2018 $7,431 APL Oakland 4,730 2008 Mar-2020 $27,156 APL Los Angeles 4,730 2008 Apr-2020 $27,156 APL Denver 4,730 2008 May-2020 $27,156 APL Atlanta 4,730 2008 June-2020 $27,156 Total 21 vessels 88,880 (1) Daily charter-out rate net of commissions, where applicable. 30
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