Navios Announces VLCC Delivery

Posted by Michelle Howard July 23, 2014

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered to Navios Acquisition's owned fleet on July 21, 2014.

The company also announced that the Nave Electron has been chartered out to a high quality counterparty for minimum one year at a rate based on charterer's VLCC pool earnings.

Impact on Navios Acquisition's 8.125% Secured Bond Due 2021
The Nave Electron has been provided as collateral under the 8.125% First Priority Ship Mortgage Notes due 2021, in place of the Nave Dorado and the Nave Lucida (MR2 product tankers). As a result, approximately $5.5 million of value has been added to the collateral package.