Navios Acquisition Charters-Out Three VLCCs

Navios Maritime Acquisition Corporation (Navios Acquisition), an owner and operator of tanker vessels, announced that the Nave Galactic, a 2009-built VLCC of 297,168 dwt, delivered on February 4, 2014 has been chartered out to a high quality counterparty for one year at a rate based on the adjusted BITR TD3 index plus a premium.

The Nave Quasar, a 2010-built VLCC of 297,376 dwt has been chartered out to a high quality counterparty for one year at a base rate of $20,475 (net) per day plus 50% profit sharing in excess of $24,375 (net) per day. The charterer has been granted an option for an additional year at a base rate of $25,350 (net) per day plus 50% profit sharing in excess of $29,250 (net) per day.

The Nave Buena Suerte, a 2011-built VLCC of 297,491 dwt, has been chartered out to a high quality counter party for minimum one year at a rate based on charterer’s VLCC pool earnings.

Navios Acquisition has contracted 83.9% and 44.2% of its available days on a charter-out basis for 2014 and 2015, respectively.

The average charter-out period of Navios Acquisition’s fleet is 2.0 years.