Navios Maritime Acquisition Corporation Announces Charters for Five MR2 Product Tankers; Fleet Coverage of 89.4% for 2012 and 62.2% for 2013
(firmenpresse) - PIRAEUS, GREECE -- (Marketwire) -- 01/12/12 -- Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced today that it has chartered out five newbuilding MR2 product tankers.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, stated, "By chartering out forward deliveries, we continue our strategy of building long-term cash flow while also securing upside potential through the mechanism of profit sharing. As a result, we can continue patiently to wait for market improvement. In the meantime, our stakeholders can be confident in our outlook and our shareholders should enjoy a continued dividend which currently provides a return of more than 7% annually."
Three MR2 vessels have been chartered out to a high-quality counterparty for three years at a rate of $13,331 net per day (plus two additional optional years at a rate of $14,566 net per day for the first optional year and a rate of $15,553 net per day for the second optional year) plus 50% profit sharing. The profit sharing will be calculated monthly and profits will be shared equally once market rates exceed the relevant index by $1,000.
Navios Acquisition anticipates that these three vessels together will generate annual base EBITDA of approximately $7.4 million. For the three-year charter period, total base EBITDA is expected to be approximately $22.3 million (assuming operating expense approximating current operating costs and 360 revenue days per year). Navios Acquisition expects the vessels will be delivered within 2012 starting from Q2 2012.
The charterer has been granted a short term option, expiring at the end of February 2012, for a fourth vessel at same terms as above.
Two MR2 vessels have been chartered out to another high-quality counterparty for three years at a rate of $13,331 net per day (plus an additional optional year at a rate of $14,813 net per day) plus profit sharing. The charterers will receive 100% of the first $1,000 in profits above the base rate and the owners will receive 100% of the next $1,000. Thereafter, all profits will be split 50% to each party.
Navios Acquisition anticipates that these two vessels together will generate annual base EBITDA of approximately $5.0 million. For the two-year charter period, total base EBITDA is expected to be approximately $14.9 million (assuming operating expense approximating current operating costs and 360 revenue days per year). Navios Acquisition expects delivery of one vessel in Q4 2012 and the other vessel in Q1 2013.
The charterer has also been granted an option for a third vessel, exercisable through January 2012, at a rate of $13,825 net per day for three years (plus an optional additional year at $15,306 net per day) with profit sharing on the same terms as described above.
Navios Acquisition has chartered-out 20 vessels of its 26 vessel fleet. The six vessels not yet chartered out will be delivered between end of 2012 and Q1 2013. Two of these vessels are subject to charter options exercisable by the end of February 2012.
Navios Acquisition has contracted 89.4% and 62.2% of its available days on a charter-out basis for 2012 and 2013, respectively.
The average charter-out period of Navios Acquisition's fleet is 4.1 years.
Navios Maritime Acquisition Corporation (NYSE: NNA) ("Navios Acquisition") is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
For more information about Navios Acquisition, please visit our website: .
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Acquisition's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. Although the Navios Acquisition believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Acquisition. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for crude, product and chemical tanker vessels, competitive factors in the market in which Navios Acquisition operates; risks associated with operations outside the United States; and other factors listed from time to time in the Navios Acquisition's filings with the Securities and Exchange Commission. Navios Acquisition expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Acquisition's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
:
Navios Maritime Acquisition Corporation
+1.212.906.8644
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.01.2012 - 08:23 Uhr
Sprache: Deutsch
News-ID 1072422
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
PIRAEUS, GREECE
Phone:
Kategorie:
Maritime
Anmerkungen:
Diese Pressemitteilung wurde bisher 132 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Navios Maritime Acquisition Corporation Announces Charters for Five MR2 Product Tankers; Fleet Coverage of 89.4% for 2012 and 62.2% for 2013
"
steht unter der journalistisch-redaktionellen Verantwortung von
Navios Maritime Acquisition Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
