Navios Maritime Acquisition Corporation Sells VLCC for $44.5 Mln

March 26, 2018

 Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has agreed to sell the Nave Galactic, a 2009-built VLCC of 297,168 dwt to Navios Maritime Midstream Partners for $44.5 million. 

 
Navios Acquisition also agreed to extend the charter rate backstop of the Shinyo Kannika to the Nave Galactic.
 
Navios Acquisition intends to use the proceeds from the sale of the vessel for repayment of indebtedness, reinvestment in vessels and general working capital purposes.
 
As a result of this transaction, the Nave Galactic will be substituted by the Nave Equinox and the Nave Pyxis MR2 product tankers as collateral under the 8 1/8% Secured Bond due 2021.
 
The sale of the Nave Galactic transaction has been unanimously approved by a Special Committee of independent Directors of Navios Acquisition.
 
Navios Acquisition is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
 

Logistics News

Consilium Safety Group Appoints New Chairman of the Board

Consilium Safety Group Appoints New Chairman of the Board

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

MDL Leases Land for Peterhead Offshore Project Support Site

MDL Leases Land for Peterhead Offshore Project Support Site

Oil Supply to Outpace Demand in Medium-Term

Oil Supply to Outpace Demand in Medium-Term

Subscribe for Maritime Logistics Professional E‑News

Sydney is pounded by a 'Bomb Cyclone' with high winds and heavy rains
Maguire: US power pollution increases with increased coal use
After a power cable failure, the high-speed train line in Spain's Andalusia is cut.