Navios Acquisition Announces Fleet Update

Tanker vessel owner and operator Navios Maritime Acquisition Corporation announced the delivery and employment of one VLCC and one MR2 product tanker and the employment of one VLCC and two product tankers.

VLCCs
The Nave Synergy, a 2010 Japanese-built VLCC of 299,973 dwt, was delivered to Navios Acquisition's owned fleet in December 2014. The vessel has been chartered out to a high quality counterparty for one year at a rate of $34,125 net per day. The vessel is expected to generate approximately $8.6 million of aggregate EBITDA during this charter, assuming operating expense approximating current costs and 360 revenue days.

The Nave Neutrino, a VLCC, has been chartered out to a high quality counterparty for nine months at a rate based on an adjusted BITR TD3 index with an option for an additional nine-month period. The adjusted BITR TD3 is currently $76,645 per day.

Product Tankers
The Nave Sextans, an MR2 product tanker of 49,999 dwt, was delivered today to Navios Acquisition's owned fleet. The Nave Sextans has been chartered out to a high quality counterparty for three years at a rate of $16,294 net per day. The vessel is expected to generate approximately $3.5 million of annual EBITDA and approximately $10.5 million of aggregate EBITDA for the entire charter period, assuming operating expense approximating current operating costs and 360 revenue days per year.

The Nave Alderamin, an MR2 product tanker, has been chartered out to a high quality counterparty for two years at $15,600 net per day. The vessel is expected to generate annual EBITDA of $3.2 million and approximately $6.5 million of aggregate EBITDA for the entire charter period, assuming operating expense approximating current operating costs and 360 revenue days per year.

The Nave Capella's, an MR2 product tanker, employment has been extended for six months at an increased rate of $14,813 net per day with an option for an additional six-month period for $16,664 net per day.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, "The strong increase in tanker rates has given us an opportunity to secure attractive period charters. We chartered out one VLCC for a one-year period at a rate we believe may be the highest VLCC rate since 2010. We have also maintained exposure to a robust spot market, currently at $76,645 per day, by chartering another VLCC on an index linked contract. We will continue to charter out our fleet while lengthening our charter periods as the market allows."

Fleet Update
Following the delivery of the Nave Synergy and Nave Sextans, Navios Acquisition has 38 vessels in the water of which eight are VLCCs, 26 are product tankers and four are chemical tankers.

Navios Acquisition has contracted 73.4% of its available days for 2015.