Piraeus, Greece - 15 Feb 2013
Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced that the Nave Rigel, a new building LR1 product tanker vessel of 74,673 dwt, was delivered on February 13, 2013 from a South Korean shipyard.
Nave Rigel 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 the same rate.
The vessel will generate a total base EBITDA of approximately $1.6 million, assuming operating expense approximating current operating costs and 360 revenue days per year.
Fleet Update
Navios Acquisition has chartered-out 25 vessels of its 29 vessel fleet. The four vessels not yet chartered out will be delivered in 2013 and 2014.
Navios Acquisition has contracted 91.1% and 56.4% of its available days on a charter-out basis for 2013 and 2014, respectively.
The average charter-out period of Navios Acquisition's fleet is 2.9 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