Navios Acquisition cancels two MR2 tanker newbuildings

Athens: Navios Maritime Acquisition Corporation has terminated contracts for two newbuilding MR2 product tankers.

The contracts were terminated “with no exposure to Navios Acquisition, due to the shipyard’s inability to issue a refund guarantee”, the Pireaus-based company said today in its year-end results for 2014. 

The cancelled vessels are likely to be the two 51,200-dwt MR2 vessels Navios Acquisition has on order at the Dae Sun yard, South Korea. Both vessels were originally scheduled for delivery this year.

Today, the company took delivery of the Nave Velocity, a 49,999-dwt MR2 product tanker, from an unaffiliated third party, for a purchase price of $35.5m. The tanker was built at the SPP yard, also in South Korea.

The Nave Velocity has been chartered out to “a quality counterparty” for two years at a net rate of $14,319 per day, the company said.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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