Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today the acquisition of a 2003-built VLCC of 298,287 dwt. The VLCC was purchased for $43.5 million. The vessel is expected to be delivered in Q2 2014, the company said in its press release.
Navios Acquisition is expected to finance the acquisition with cash on its balance sheet and financing consistent with its existing credit arrangements.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, stated, "Navios Acquisition is a premier tanker company having expanded its fleet at attractive points in the cycle. Today, our fleet of 11 VLCCs makes Navios Acquisition one of the leading public owners of VLCCs."
Following the acquisition of the VLCC Navios Acquisition owns 44 vessels: 11 VLCCs, 29 product tankers and 4 chemical tankers.
About Navios Maritime Acquisition Corporation
Navios Acquisition is an owner and operator of tanker vessels focusing in the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.