Navios Maritime Acquisition Corporation Inks Sale and Leaseback Pact

April 19, 2018

 Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has completed a $71.5 million sale and leaseback agreement  for four MR2 product tankers. The proceeds have been used to extinguish $69.25 million of indebtedness.

 
The Agreement provides for 24 quarterly payments of $1.5 million each plus interest at LIBOR plus 305 bps per annum. Navios Acquisition has an obligation to purchase the vessels at the end of sixth year for $35.8 million.
 
Angeliki Frangou, Chairman and CEO of Navios Acquisition, said, “We are pleased to have concluded a sale and leaseback agreement for four product tankers with a leading Chinese institution. We look forward to continuing to develop access to this attractive financing market.”
 
Navios Acquisition has no further maturities on its credit facilities for the next 14 months.
 

Logistics News

Rotterdam's Offshore CO2 Pipeline Completed

Rotterdam's Offshore CO2 Pipeline Completed

Turkey Bars Israeli Ships From Its Ports

Turkey Bars Israeli Ships From Its Ports

Eighth Island Class Vessel Joins BC Ferries

Eighth Island Class Vessel Joins BC Ferries

Vattenfall Secures Dutch Base to Support Germany’s Largest Offshore Wind Farm

Vattenfall Secures Dutch Base to Support Germany’s Largest Offshore Wind Farm

Subscribe for Maritime Logistics Professional E‑News

Royal Mail's first results after change of ownership show a profit for the operator
Data shows that Russian gas exports to Europe fell by 2% m/m during August.
Sources: Belize bulk carrier damaged by blast in Black Sea near Ukraine Odesa