Navios Maritime Acquisition Corp Announces Agreement to Sell Two Chemical Tankers for $72.9 Million

By Vessels

Navios Maritime Acquisition Corporation (Navios Acquisition), announced on Monday (Apr 18) that it has agreed to sell to an unaffiliated third party the Nave Constellation, a 2013-built chemical tanker of 45,281 dwt, and the Nave Universe, a 2013-built chemical tanker of 45,513 dwt, for a sale price of $74.6 million, resulting in an expected book gain of approximately $11.7 million.

Navios Maritime Acquisition Corp Announces Agreement to Sell Two Chemical Tankers for $72.9 Million

Chemical/Oil Products Tanker Nave Constellation Image: Roel Zwama

The vessels were acquired in 2013 for a total purchase price of $67.2 million. While owned by NNA, the two vessels are expected to have generated a total EBITDA of $22.3 million.

Chemical/Oil Products Tanker Nave Universe Image: Gyssels Gilbert

Closing of the transaction is expected in the third quarter of 2016, following the completion of vessels’ chartering commitments.
Navios Acquisition intends to use the proceeds from the sale of these vessels for repayment of indebtedness and general working capital purposes.

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