Navios locks in triple return on boxship flip

New York-listed Navios Maritime Partners has confirmed the recently reported sale of its 15-year-old panamax boxship, achieving a tripling of its original investment in the S&P market alone. The Angeliki Frangou-led company said it had offloaded the 2009 Jiangsu New Yangzijiang-built 4,250 teu Navios Tempo for $35.5m after purchasing the unit in 2017 for just …

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