Sungdong Shipyard Hands Over Nave Atropos

Navios Maritime Acquisition Corporation (“Navios Acquisition”), an owner and operator of tanker vessels, announced that the Nave Atropos, a newbuilding LR1 product tanker vessel of 74,695 dwt, was delivered on April 24 from South Korean-based Sungdong Shipbuilding and Marine Engineering.

Nave Atropos has been chartered out to a high quality counterparty for one year at a rate of $11,850 net per day plus 50% profit sharing based on a formula. The charterer has been granted an option for an additional six months at the same rate.

The vessel will generate a total base EBITDA of approximately $1.6 million, assuming operating expense approximating current operating costs and 360 revenue days per year.

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Press release, April 25, 2013