South Korean Shipyard Delivers ‘Nave Universe’ to Navios Maritime

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced yesterday that the Nave Universe, a new building chemical tanker vessel of 45,313 dwt, was delivered from a South Korean shipyard on July 22, 2013.

The Nave Universe has been chartered out to a quality counterparty for two years at a rate of $14,869 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 $16,088 net per day, plus 50% profit sharing.

The Nave Universe is expected to generate approximately $3.0 million of annual base EBITDA ($6.0 million of aggregate base EBITDA for the charter period) assuming operating expense approximating current operating costs and 360 revenue days per year.

Following the delivery of the Nave Universe, Navios Acquisition has 28 vessels in the water.

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Navios, July 24, 2013