Navios to Sell 2 Chemical Tankers for $72.9 Million

Angeliki Frangou

Navios Acquisition announced 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.

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.

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.

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