Shipping company Navios Maritime Holdings said that it has received three new Capesize vessels from South Korean shipyards.

The company has issued a $20m unsecured bond.

Navios hopes to generate a total annual EBITDA of approximately $46.6m after employment of the vessels under existing long-term charter-out contracts.

Two of the vessels are financed with a ten-year term facility for $120m.

The third vessel is financed with a ten-year term facility for $60m.