Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, 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 $1.6 million annual base EBITDA and $4.8 million of aggregate base EBITDA, assuming operating expense approximating current operating costs and 360 revenue days per year.
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