Fleet
Operating Fleet |
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| Vessel Name | Vessel Type | Year Built | DWT |
Charter Expiration Date |
Net Charter Rate (daily) | Profit Sharing | ||||||
| Buddy | MR2 Product Tanker | 2009 | 50,470 |
October 2012 October 2014 |
$22,490 $21,503 |
None | ||||||
| Bull | MR2 Product Tanker | 2009 | 50,542 |
September 2012 September 2014 |
$22,490 $21,503 |
None | ||||||
| LR1 Product Tanker | 2011 | 75,000 | November 2014 | $11,850 (4) |
100% up to $15,000 50% above $15,000 |
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| LR1 Product Tanker | 2007 | 74,671 | November 2012 | $11,751(2,3) | None | |||||||
| Nave Ariadne | LR1 Product Tanker | 2007 | 74,671 | November 2012 | $11,751(2,3) | None | ||||||
| Nave Estella | LR1 Product Tanker | 2012 | 75,000 | January 2015 | $11,850(5) | 90% up to $15,000
50% above $15,000 |
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| Nave Cosmos | Chemical Tanker | 2010 | 25,130 |
August 2012 |
$11,700 |
60% / 40% |
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| Nave Polaris | Chemical Tanker | 2011 | 25,145 |
July 2012 |
$11,700 |
60% / 40% |
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| Shinyo Splendor | VLCC | 1993 | 306,474 | May 2014 | $38,019 | None | ||||||
| Shinyo Navigator | VLCC | 1996 | 300,549 | December 2016 | $42,705 | None | ||||||
| C. Dream | VLCC | 2000 | 298,570 | March 2019 | $29,625(1) | 50% above $30,000, 40% above $40,000 | ||||||
| Shinyo Ocean | VLCC | 2001 | 281,395 | January 2017 | $38,400 | 50% above $43,500 | ||||||
| Shinyo Kannika | VLCC | 2001 | 281,175 | February 2017 | $38,025 | 50% above $44,000 | ||||||
| Shinyo Saowalak | VLCC | 2010 | 298,000 | June 2025 | $48,153 | 35% above $54,388, 40% above $59,388, 50% above $69,388 |
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| Shinyo Kieran | VLCC | 2011 | 297,066 | June 2026 | $48,153 |
35% above $54,388, 40% above $59,388, 50% above $69,388 |
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Newbuilding Program |
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| Vessel Name | Vessel Type | DWT | Estimated Delivery Date | Net Charter Rate (daily) | Expiration Date | Profit Sharing | |
| Nave Cassiopeia | LR1 Product Tanker | 75,000 | Q3 2012 | ||||
| Nave Cetus | LR1 Product Tanker | 75,000 | Q4 2012 | ||||
| Nave Rigel | LR1 Product Tanker | 75,000 | Q4 2012 | ||||
| Nave Atriopos | LR1 Product Tanker | 75,000 | Q4 2012 | ||||
| Nave Atria | MR2 Product Tanker | 50,000 | Q2 2012 | $13,331 (6) | 50% /50% | ||
| Nave Aquila | MR2 Product Tanker | 50,000 | Q3 2012 | $13,331 (6) | 50% /50% | ||
| TBN | MR2 Product Tanker | 50,000 | Q4 2012 | $13,331 (7) | 50% /50% | ||
| TBN | MR2 Product Tanker | 50,000 | Q4 2012 | $13,331 (7) | 50% /50% | ||
| TBN | MR2 Product Tanker | 50,000 | Q4 2012 | $13,825 (7,8) | 50% /50% | ||
| TBN | MR2 Product Tanker | 50,000 | Q1 2013 | ||||
| TBN | MR2 Product Tanker | 50,000 | Q1 2013 | ||||
| TBN | MR2 Product Tanker | 50,000 | Q2 2014 | ||||
| TBN | MR2 Product Tanker | 50,000 | Q3 2014 | ||||
| TBN | MR2 Product Tanker | 50,000 | Q4 2014 | ||||
(1) Vessel sub-chartered at $34,843/day until Q3 2012
(2) On October 28, 2011, the charter contracts for the Nave Cielo and the Nave Ariadne were terminated prior to their original expiration in June 2013. Navios Acquisition entered into certain settlement agreements with charterers that provide for an amount of approximately $5.0 million to compensate for the early termination of the charters and to cover any outstanding receivables, out of which $2.0 million will be settled in installments until June 2015.
(3) Charterer’s option to extend the charter for 1+1+1 years at 12,739 (net) 1st optional year; 13,825 (net) plus 50/50% profit sharing 2nd optional year; 14,813 (net) plus 50/50% profit sharing 3rd optional year.
(4) Charterer’s option to extend the charter for 1+1 years at $12,838 (net) 1st optional year plus 100% profit up to $16,000 plus 50/50% profit sharing above $16,000; $13,825 (net) 2nd optional year plus 100% profit up to $17,000 plus 50/50% profit sharing above $17,000. Profit sharing formula is calculated monthly and incorporates $2,000 premium above the relevant index.
(5) Charterer’s option to extend the charter for 1+1 years at $11,850 (net) 1st optional year plus 90% profit up to $16,000 plus 50/50% profit sharing above $16,000; $11,850 (net) 2nd optional year plus 90% profit up to $17,000 plus 50/50% profit sharing above $17,000. Profit sharing formula is calculated monthly and incorporates $2,000 premium above the relevant index.
(6) Charterer’s option to extend the charter for 1+ 1 years at $14,566 (net) 1st optional year plus profit sharing; $15,553 (net) 2nd optional year plus profit sharing. The profit sharing will be calculated monthly and profits will besplit equally to each party. Profit sharing formula incorporates $1,000 premium above the relevant index.
(7) Charterer’s option to extend the charter for 1 year at $14,813 (net) plus profit sharing. The charterers will receive 100% of the first $1,000 in profits above the base rate and the owners will receive 100% of the next $1,000. Thereafter, all profits will be split equally to each party.
(8) Contract remains on Charterer’s option until March 30, 2012.
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