Navios Maritime Acquisition Corporation Announces Delivery of One VLCC
November 03 2020 - 7:31AM
Navios Maritime Acquisition Corporation (“Navios Acquisition”)
(NYSE: NNA), an owner and operator of tanker vessels, announced
today that the Baghdad, a new building VLCC of 313,433 dwt under
bareboat lease, was delivered on October 28, 2020 from a Japanese
shipyard.
The Baghdad has been chartered out to a
high-quality counterparty for a ten-year period at a bareboat rate
of $27,816 (net) per day. The charter party has an option for
an additional five-year period at a bareboat rate of $29,751 (net)
per day.
About Navios Acquisition Navios
Acquisition (NYSE: NNA) is an owner and operator of tanker vessels
focusing on the transportation of petroleum products (clean and
dirty) and bulk liquid chemicals. For more information about Navios
Acquisition, please visit our website:
www.navios-acquisition.com.
Forward Looking StatementsThis
press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended) concerning
future events and expectations, including with respect to Navios
Acquisition’s future dividends, expected cash flow generation and
Navios Acquisition’s growth strategy and measures to implement such
strategy, including expected vessel acquisitions and entering into
further employment contracts. Words such as “may,” “expects,”
“intends,” “plans,” “believes,” “anticipates,” “hopes,”
“estimates,” and variations of such words and similar expressions
are intended to identify forward-looking statements. Such
statements include comments regarding expected revenue and
employment contracts. These forward-looking statements are based on
the information available to, and the expectations and assumptions
deemed reasonable by, Navios Acquisition at the time these
statements were made. Although Navios Acquisition believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve risks and are
based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Navios Acquisition. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited risks
related to: global and regional economic and political conditions
including the impact of the COVID-19 pandemic and efforts
throughout the world to contain its spread, including effects on
global economic activity, demand for seaborne transportation of the
products we ship, the ability and willingness of charterers to
fulfill their obligations to us and prevailing charter rates,
shipyards performing scrubber installations, drydocking and
repairs, changing vessel crews and availability of financing;
potential disruption of shipping routes due to accidents, diseases,
pandemics, political events, piracy or acts by terrorists,
including the impact of the COVID-19 pandemic and the
ongoing efforts throughout the world to contain it; the
creditworthiness of our charterers and the ability of our contract
counterparties to fulfill their obligations to us; tanker industry
trends, including charter rates and vessel values and factors
affecting vessel supply and demand; the aging of our vessels and
resultant increases in operation and dry docking costs; the loss of
any customer or charter or vessel; our ability to repay outstanding
indebtedness, to obtain additional financing and to obtain
replacement charters for our vessels, in each case, at commercially
acceptable rates or at all; increases in costs and expenses,
including but not limited to crew wages, insurance, provisions,
port expenses, lube oil, bunkers, repairs, maintenance and general
and administrative expenses; the expected cost of, and our ability
to comply with, governmental regulations and maritime
self-regulatory organization standards, as well as standard
regulations imposed by our charterers applicable to our business;
potential liability from litigation and our vessel operations,
including discharge of pollutants; general domestic and
international political conditions; competitive factors in the
market in which Navios Acquisition operates; operations outside the
United States; and other factors listed from time to time in Navios
Acquisition’s filings with the SEC, including its annual and
interim reports filed on Form 20-F and Form 6-K. Navios Acquisition
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Navios Acquisition’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based. Navios
Acquisition makes no prediction or statement about the performance
of its common stock.
Public & Investor Relations
Contact:Navios Maritime Acquisition
Corporation+1.212.906.8644info@navios-acquisition.com
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