NAVE SEXTANS

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Course/Position

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New Charter fixed

$14,000/day, for 1 year trading, to NORDEN

Navios Maritime takes delivery and employment of MR2 tanker

NNA on Jan. 8 took delivery of the Nave Sextans, a nearly 50K deadweight tonnage MR2 product tanker, which has been chartered to an unidentified customer for two years at $15.6K/day; late last month, it took ownership of the Nave Synergy, a crude carrier with nearly 300K deadweight tonnage that has been chartered for one year at almost $34K/day.

Navios Maritime Announces Employment for MR2 Product Tanker

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the NAVE PYXIS and the NAVE SEXTANS have been chartered out to a high quality counterparty for three years at a rate of $16,294 net per day. The vessels are expected to generate approximately $7.0 million of annual EBITDA (approximately $20.9 million of aggregate EBITDA for the charter period in total) assuming operating expense approximating current operating costs and 360 revenue days per year. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “The rate environment for tankers has materially improved and we have taken advantage of this dynamic by securing three year charters at attractive rates. As the rate market evolves, we would expect to re-balance our charter periods to include longer term contracts when available.”Navios Acquisition has contracted 66.9% of its available days on a charter-out basis for 2015.The average charter-out period of Navios Acquisition’s fleet is 1.1 years. Source: Navios Maritime Acquisition Corp.