Navios Maritime Acquisition Corporation Announces Delivery of Two MR2 Product Tankers

Monaco, 30 Sept 2013

Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced that the Bougainville, a new building MR2 product tanker of 50,626 dwt, was delivered today from a South Korean shipyard.

The Bougainville has been chartered out to a high quality counterparty for four years 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 Bougainville is expected to generate approximately $3.2 million annual base EBITDA for the first year ($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 also announced that the Nave Dorado, a 2005-Japanese built MR2 product tanker of 47,999 dwt, was delivered on September 24, 2013.

Fleet Update
Following the delivery of the Bougainville and the Nave Dorado, Navios Acquisition has 33 vessels in the water.

Navios Acquisition has contracted 97.2% and 75.5% 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 2.5 years.

About Navios Maritime Acquisition Corporation
Navios Acquisition (NYSE: NNA) 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:

Source: Navios Maritime Acquisition Corporation