Navios Acquisition Announces Delivery of ‘Nave Lucida’ Product Tanker

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Lucida, a 2005-built MR2 product tanker of 47,999 dwt, was delivered on October 23, 2013.

The Nave Lucida has been chartered out to a high quality counterparty for one year at a base rate of $12,500 (net) per day, plus 100% profit sharing up to $14,000 (net) per day; thereafter, profit sharing will be split 50%/50%. The charterer has been granted an option for an additional year at an increased rate of $13,500 (net) per day, plus 100% profit sharing up to $15,000 (net) per day; thereafter, profit sharing will be split 50%/50%.

The Nave Lucida is expected to generate approximately $2.2 million base EBITDA for the charter period, assuming operating expense approximating current operating costs and 360 revenue days per year.

Navios Acquisition also announced that the Nave Dorado has been chartered to the same high quality counterparty as the Nave Lucida on identical terms.

The two vessels are expected to generate an aggregate base EBITDA of $4.4 million for the charter period.

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Navios, October 25, 2013