Navios Maritime Partners Up 5% On Deal With Israeli Container Shipping Company

Shares of cargo and tanker vessels operator Navios Maritime Partners LP (NMM) are trading up 5 percent on Thursday's trading after the deal with Israeli container shipping company ZIM Integrated Shipping Services was announced.

ZIM Integrated Shipping Services will charter 13 vessels Navios Maritime Partners. These include five second-hand 3,500-4,360 TEU vessels for up to 4.5 years and eight newbuild 5,300 TEU vessels for up to 5.3 years for total charter hire consideration of approximately $870 million.

Currently at $32.17, the stock has traded between $16.05 and $36.46 during the past 52 weeks.

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