Navios Maritime Acquisition VLCC gets two-year timecharter

Navios Maritime Acquisition has fixed one of its six VLCCs to Shell on a two-year timecharter.

The Nave Neutrino (298,300 dwt, built 2003) was fixed at a net average rate of $40,500 per day, with the first and last month of the contract being priced on the BITR TD3-TCE index.

Brokers say the ship was fixed on or around August 28, but the finer details of the deal have just been made public.

“The vessel is expected to generate approximately $20.9m of base EBITDA for the period of this charter assuming operating expense approximating current operating costs,” Navios Acquisition said in a statement today.

The NYSE-listed company says it has contracted 98.6% of its available days for 2015 and 46.0% for 2016.

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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