Nave Atropos sungdong shipyard

Sungdong Shipyard Delivers LR1 Product Tanker to Navios

Rob Almeida
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April 24, 2013

Nave Atropos sungdong shipyard

Piraeus-based tanker owner, Navios Maritime Acquisition Corporation (NYSE: NNA) announced the delivery today of the Nave Atropos, a 74,695 dwt LR1 product tanker, from Sungdong Shipyard in South Korea.

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.

Navios Acquisition has contracted 86.1% and 50.4% 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 2.7 years.

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