Navios Receive Chemical Tanker with Employment

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Constellation, a newbuild chemical tanker of 45,281 dwt, was delivered today from a South Korean shipyard.

The Nave Constellation has been chartered out to a quality counterparty for two years at a rate of $14,869 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 $16,088 net per day, plus 50% profit sharing.

The Nave Constellation is expected to generate approximately $3 million of annual base EBITDA ($6 million of aggregate base EBITDA for the charter period) assuming operating expense approximating current operating costs and 360 revenue days per year.

Following the delivery of the Nave Constellation, Navios Acquisition has 31 vessels in the water.

Navios Acquisition has contracted 93.6% and 62.8% 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.

navios-acquisition.com