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News Breaks
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January 23, 2012
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| 07:30 EDT |  | NNA |
| theflyonthewall.com: | Navios Acquisition announces delivery of an LR1 product tanker | | Navios Maritime Acquisition announced that the Nave Estella, an LR1 Product Tanker of 75,000 dwt, was delivered on January 20, 2012 from a South Korean shipyard. The Nave Estella has commenced a 3-year charter-out at a net rate of $11,850 with 90%/10% profit sharing for rates up to $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 charterer was also given two one-year options at a net rate of $11,850/day plus 90%/10% profit sharing for rates up to $16,000 and 50%/50% for rates above $16,000 for the first year and $11,850/day plus 90%/10% profit sharing for rates up to $17,000 and 50%/50% for rates above $17,000 for the second year. The Nave Estella is expected to generate approximately $1.6M annual base EBITDA and $4.8M of aggregate base EBITDA, assuming operating expense approximating current operating costs and 360 revenue days per year. :theflyonthewall.com |
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