Greece: Navios Acquisition Takes Delivery of Newbuild MR2 Product Tanker

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Bellatrix, a new building MR2 product tanker vessel of 49,999 dwt, was delivered on Thursday, January 24, 2012, from a South Korean shipyard.

Nave Bellatrix has been chartered out to a high quality counterparty for three years at a rate of $13,331 net per day plus 50% profit sharing. The charterer will receive the first $1,000 of profits above the base rate and the owner will receive next $1,000 of profits. Thereafter, all profits will be split equally to each party.

The charterer has been granted an option for an additional year at a rate of $14,813 net per day plus 50% profit sharing.

The vessel is expected to generate approximately $2.5 million of annual base EBITDA and approximately $7.4 million of aggregate base EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year.

Fleet Update

Navios Acquisition has contracted 88.2% and 55.4% 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 3.0 years.

[mappress]

Navios Acquisition, January 28, 2013