Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today that the LR1 Product Tanker Nave Andromeda of 75,000 dwt was delivered from a South Korean shipyard and immediately began a 3-year charter-out with two one-year options at a net rate of $11,850 for the first three years with 100% profit sharing for rates below $15,000/day and 50/50 above $15,000/day. The profit sharing formula is calculated monthly and incorporates a $2,000 premium above the relevant index.
The Nave Andromeda is expected to generate approximately $1.6 million annual base EBITDA and $4.8 million of aggregate base EBITDA, assuming operating expense approximating current operating costs and 360 revenue days per year.
About Navios Maritime Acquisition Corporation
Navios Acquisition is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
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World Maritime News Staff, November 16, 2011; Image: Navios