of One MR2 Product Tanker Vessel
Jul 31, 2012
Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced that the Nave Atria, a new building MR2 product tanker vessel of 50,000 dwt, was delivered today from a South Korean shipyard.
Nave Atria has been chartered out to a high quality counterparty for three years at a rate of $13,331 net per day plus 50% profit sharing based on a formula. The charterer has been granted an option for an additional two years at a rate of $14,566 net per day for the first optional year and a rate of $15,553 net per day for the second optional year.
The vessel will generate approximately $2.5 million of annual EBITDA and approximately $7.5 million of aggregate EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year.
Fleet Update
Navios Acquisition has chartered-out 24 vessels of its 29 vessel fleet. The five vessels not yet chartered out will be delivered in 2013 and 2014.
Navios Acquisition has contracted 98.7% and 75.7% of its available days on a charter-out basis for 2012 and 2013, respectively.
The average charter-out period of Navios Acquisition's fleet is 3.0 years.
About Navios Maritime Acquisition Corporation
Navios Acquisition (NYSE: NNA) is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. For more information about Navios Acquisition, please visit our website: www.navios-acquisition.com.
Source: Navios Maritime Acquisition Corporation