Navios Announces Delivery of One MR2 Product Tanker Vessel (South Korea)

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced recently that the Nave Titan, a new building MR2 product tanker vessel of 49,999 dwt, was delivered on June 10, 2013 from a South Korean shipyard.

Nave Titan has been chartered out to a high quality counterparty for three years at a rate of $13,825 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 $15,306 net per day plus 50% profit sharing.

The vessel is expected to generate approximately $2.7 million of annual base EBITDA and approximately $8.0 million of aggregate base EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year.

[mappress]
Navios-Acquisition, June 13, 2013