South Korea: Dae Sun Shipbuilding Delivers MR2 Product Tanker Nave Atria

Navios Maritime Acquisition Corporation (Navios Acquisition), an owner and operator of tanker vessels, announced that the Nave Atria, a new building MR2 product tanker vessel of 50,000 dwt, was delivered today from a South Korean Dae Sun Shipbuilding & Engineering Co.

The vessel will generate approximately $2.5 million of annual EBITDA and approximately $7.5 million of aggregate EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year.

Navios Acquisition has chartered-out 24 vessels of its 29 vessel fleet. The five vessels not yet chartered out will be delivered in 2013 and 2014.

Vessel Particulars:

LOA (m) 183.1

Beam (m) 32.2

Draft (m) 13

Established in 1945, Dae Sun Shipbuilding & Engineering Co., Ltd. has since played an important role in the medium shipbuilding industry in Korea. Situated at the center of the port of Busan, which provides optimum geographical advantages the shipyard has built over 480 ships of various types including:

• Container Ships: nominal capacity up to 2,500 TEU
• Tankers: Oil and Chemicals Tanker up to DWT 40,000
• Bulk Carriers: Nominal capacity up to DWT 40,000
• MPC & General Cargo Ships: All types of vessel up to DWT 30,000
• RO/RO Ships: Various types of RO/RO Ships up to DWT 10,000

[mappress]

Shipbuilding Tribune Staff, August 1, 2012; Image: daesuns