Navios Maritime Acquisition Corporation Announces Delivery of One LR1
Product Tanker Vessel With One Year Employment

Sep 04, 2012

Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced that the Nave Cassiopeia, a new building LR1 product tanker vessel of 74,711 dwt, was delivered on August 31, 2012 from a South Korean shipyard.

Nave Cassiopeia has been chartered out to a high quality counterparty for one year at a rate of $11,850 net per day plus 50% profit sharing based on a formula. The charterer has been granted an option for an additional six months at same terms. The vessel will generate approximately $1.6 million of annual base EBITDA.

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 100.0% and 83.0% 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 3.3 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