Navios Takes Delivery of MR2 Product Tanker Bougainville

Navios Maritime Acquisition Corporation (Navios Acquisition) announced that the Bougainville, a new building MR2 product tanker of 50,626 dwt, was delivered yesterday from STX Offshore & Shipbuilding, Jinhae Shipyard.

The Bougainville is expected to generate approximately $3.2 million annual base EBITDA for the first year ($13.5 million of aggregate base EBITDA including the annual 2% increase over the duration of the charter), assuming operating expense approximating current operating costs and 360 revenue days per year.

Navios Acquisition also announced that the Nave Dorado, a 2005-Japanese built MR2 product tanker of 47,999 dwt, was delivered on September 24, 2013.

Following the delivery of the Bougainville and the Nave Dorado, Navios Acquisition has 33 vessels in the water.

[mappress]

Press Release, October 1, 2013