Navios Maritime Acquisition Corporation (NYSE: NNA) has announced that four of their eleven MR2 newbuild product tankers have just received charter contracts.
One of the chartered product tankers is expected to be delivered in Q3 2013 and the other three will be delivered in Q1, Q3 and Q4 of 2014, respectively.
Navios notes that the tanker delivered in 2013 has received a 4-year charter at a base rate of $15,356 (net) per day plus 100% profit based on an index, with a ceiling of $20,475 (net) per day. Charter base and ceiling rates will increase 2% per annum.
The three tankers to be delivered in 2014 each received two year charters at a base rate of $14,319 (net) per day plus 50% profit sharing.
Each of these three vessels are expected to generate approximately $2.8 million of annual base EBITDA ($5.7 million of aggregate base EBITDA) assuming operating expense approximating current operating costs and 360 revenue days per year.
The vessel delivered in 2013 is expected to generate approximately $3.2 million annual base EBITDA. ($13.5 million of aggregate base EBITDA including the annual 2% increase over the duration of the charter), assuming operating expense approximating current operating costs and 360 revenue days per year.
Navios Acquisition notes that they have contracted 92.1% and 60.4% of its available days on a charter-out basis for 2013 and 2014, respectively.
The average charter-out period of Navios Acquisition’s fleet is 2.4 years.
COPENHAGEN, April 15 (Reuters) – Shipping company Maersk has not made any deployment changes after a Portuguese-flagged container ship was seized by Iran in the Strait of Hormuz on Saturday, the Danish company said on Monday. “We find recent...
WASHINGTON, April 15 (Reuters) – The FBI has opened a federal criminal investigation into the deadly collapse of a Baltimore bridge last month when a ship crashed into one of its supports,...
By Daryna Krasnolutska (Bloomberg) Russia and Ukraine may have struggled to shift things significantly on the battlefield for more than 16 months, but a new phase of the war is moving...
April 14, 2024
Total Views: 2053
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.