Navios Maritime Acquisition Corporation Announces Charters for Four Newbuilding
MR2 ProductTankers; Fleet Coverage: 92.1% for 2013, 60.4% for 2014
Piraeus, Greece, 6 Aug 2013
Vessel delivering in Q3 2013
One newbuilding MR2 product tanker has been chartered out to a high quality counterparty for four years at a base rate of $15,356 (net) per day plus 100% profit based on an index, with a ceiling of $20,475 (net) per day. Charter base and ceiling rates will increase 2% per annum.
The vessel is expected to generate approximately $3.2 million annual base EBITDA for the first year ($13.5 million of aggregate base EBITDA including the annual 2% increase over the duration of the charter), assuming operating expense approximating current operating costs and 360 revenue days per year.
Navios Acquisition expects the vessel to be delivered in Q3 2013.
Vessels delivering in 2014
Three newbuilding MR2 product tankers have been chartered out to a high-quality counterparty for two years at a base rate of $14,319 (net) per day plus 50% profit sharing. Each vessel is expected to generate approximately $2.8 million of annual base EBITDA ($5.7 million of aggregate base EBITDA), assuming operating expense approximating current operating costs and 360 revenue days per year.
Navios Acquisition expects these vessels will be delivering in Q1, Q3 and Q4 of 2014.
Fleet Update
Navios Acquisition has contracted 92.1% and 60.4% 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 2.4 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