Navios Charters Out VLCC

NYSE-listed tanker owner and operator Navios Maritime Acquisition Corporation has found a 2-year charter gig for one of its Very Large Crude Carriers (VLCCs).

Navios chartered out the 2003-built Nave Neutrino to ”a high quality counterparty” for two years at an average rate of USD 40,500 net per day with the first and last month of the contract being priced on the BITR TD3-TCE index.

The vessel is expected to generate approximately USD 20.9 million of base EBITDA for the period of this charter assuming operating expense approximating current operating costs.

Navios currently has 37 vessels on water and has contracted 98.6% of its available days for 2015 and 46% for 2016.

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