Navios fixes a VLCC and two MR2 tankers

London: Navios Maritime Acquisition Corp has fixed a VLCC to Shell and two MR2 product tankers on one-year timecharters.

The VLCC Nave Galactic (297,200 dwt, built 2009) was fixed on a one-year timecharter to a “high-quality counterparty”, believed to be Shell Shipping and Trading, brokers told Splash today.

The rate is linked to the BITR TD3-TCE index. Navios will receive 100% of the index rate up to $39,500 net per day and 50% of any amount in excess of this figure per day. The company says this will bring in a minimum net rate of $29,625 per day.

The NYSE-listed owner has also fixed two MR2 tankers with ice class 1A to two other major traders.

Nave Equinox (50,900 dwt, built 2007) was fixed to Shell on a one-year timecharter at a rate of $15,650 net per day, plus an ice-transit premium of $1,900 per day.

Sister ship Nave Pulsar (50,900 dwt, built 2007) was fixed to Trafigura for at a rate of $15,553 net per day, day plus an ice-transit premium of $1,975 per day, for a one-year period.

Navios expects both MR2 vessels to each generate around $3.2m in base EBITDA over the course of their charters.

Both charters are currently on charters to BP that will terminate on April 17, currently earning $14,000 per day plus a $2,000-per-day premium for ice trading.

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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