Navios Acquisition Agrees to Acquire 5 Vessels in Liquidation of Navios Europe I

Navios-NYSE

Navios Acquisition, an owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I.

On November 22, 2019, an agreement was reached to liquidate Navios Europe I.  As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I.

This receivable along with debt financing will be used to finance the Acquisition.

The agreement is subject to definitive documentation which is expected to be completed by the end of 2019.

The five product tankers owned by Navios Europe I that are included in the Acquisition are:

Vessels Type Built DWT Charter Rate, net ($) Expected Expiration Date
Perseus N MR1 Tanker 2009 36,264 11,356 04/2020
Star N MR1 Tanker 2009 37,872 11,850 01/2020
Hector N MR1 Tanker 2008 38,402 11,850 01/2020
Aurora N LR1 Tanker 2008 63,495 Floating rate 02/2020
Lumen N LR1 Tanker 2008 63,599 Floating rate 02/2020
Total: 5 vessels 239,632

 

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