SOURCE: Navios Maritime Acquisition Corporation

January 27, 2011 16:00 ET

Navios Maritime Acquisition Corporation Announces Delivery of New Building Chemical Tanker

PIRAEUS, GREECE--(Marketwire - January 27, 2011) - Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels ("Navios Acquisition") (NYSE: NNA), announced that the chemical tanker vessel Nave Polaris of 25,145 dwt was delivered today from a South Korean shipyard to Navios Acquisitions' owned fleet. The vessel is chartered out for 6 months at a net rate of $10,238 per day for the first three months and at a net rate of $11,213 per day for the remaining of the charter out period.

Time Charter Coverage

Currently Navios Acquisition has contracted 91.1%, and 57.4% of its available days on a charter-out basis for 2011 and 2012, respectively.

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: http://www.navios-acquisition.com.

Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Acquisition's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. Although Navios Acquisition believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Acquisition. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for product and chemical tanker vessels, competitive factors in the market in which Navios Acquisition operates; risks associated with operations outside the United States; and other factors listed from time to time in the Navios Acquisition's filings with the Securities and Exchange Commission. Navios Acquisition expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Acquisition's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact Information

  • Investor Relations Contact:
    Navios Maritime Acquisition Corporation
    +1. 212.906.8644
    Email Contact