Navios Charters Out Three Tankers

zoom The NYSE-listed tanker owner and operator Navios Maritime Acquisition Corporation has chartered out one Very Large Crude Carrier (VLCC) and two MR2 product tankers for a period of one year. The Nave Galactic, a 2009-built VLCC, has been chartered at a rate based on the BITR TD3-TCE index. Navios Acquisition will receive 100% of the index rate up to USD 39,500 net per day and 50% of any amount in excess of USD 39,500 net per day. The contract provides a minimum rate of USD 29,625 net per day. The Nave Equinox, a 2007-built MR2 product tanker will fetch USD 15,650 net per day plus an ice-transit premium of USD 1,900 per day. The vessel is expected to generate approximately USD 3.2 million of base EBITDA for the period of this charter assuming operating expense approximating current operating costs. The Nave Pulsar, a 2007-built MR2 product tanker will earn slightly less at USD 15,553 net per day plus an ice-transit premium of USD 1,975 per day. Navios expects to see another USD 3.2 million of base EBITDA from this charter.