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|