Navios Maritime Acquisition Corporation (Navios Acquisition) (NYSE:NNA), an owner and operator of tanker vessels, announced yesterday that it has agreed to sell the Nave Galactic, a 2009-built VLCC of 297,168 dwt to Navios Maritime Midstream Partners L.P. (Navios Midstream) (NYSE:NAP) 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.
The sale of the Nave Galactic transaction has been unanimously approved by a Special Committee of independent Directors of 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.
Source: Navios Maritime Acquisition Corp