Piraeus, Greece, 11 June 2013
Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced today that the Nave Titan, a new building MR2 product tanker vessel of 49,999 dwt, was delivered on June 10, 2013 from a South Korean shipyard.
Nave Titan has been chartered out to a high quality counterparty for three years at a rate of $13,825 net per day plus 50% profit sharing based on a formula. The charterer has been granted an option for an additional year at a rate of $15,306 net per day plus 50% profit sharing.
The vessel is expected to generate approximately $2.7 million of annual base EBITDA and approximately $8.0 million of aggregate base EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year.
Fleet Update
Navios Acquisition has contracted 85.6% and 48.3% 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 2.5 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. SE: 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