Navios Maritime Acquisition Corporation Announces Delivery of Two LR1 Product Tankers

PIRAEUS, Greece, July 12 /PRNewswire-FirstCall/ --Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced today, the delivery of the Colin Jacob and the Ariadne Jacob. These LR1 product tanker vessels, built in 2007, immediately commenced three-year time charters at a rate of $17,000 net per day plus profit sharing. It is anticipated that these charters will generate aggregate base annual EBITDA of approximately $6.9 million.

Angeliki Frangou, Chairman and CEO commented, "The delivery of these vessels marks the commencement of Navios Acquisition's fleet operations. Since we entered the tanker sector, we have observed improving industry prospects validating our investment in this sector. We intend to grow the company into a world-leading operator of modern, high-quality tankers."

About Navios Maritime Acquisition Corporation

Navios Maritime Acquisition Corporation (NYSE: NNA) ("Navios Acquisition") is an owner and operator of tanker vessels focusing in the transportation of refined petroleum products (clean and dirty) and bulk liquid chemicals.

For more information about Navios Acquisition, please visit our website: http://www.navios-acquisition.com.  

Forward Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Acquisition's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. Although the Navios Acquisition believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Acquisition. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for product and chemical tanker vessels, competitive factors in the market in which Navios Acquisition operates; risks associated with operations outside the United States; and other factors listed from time to time in the Navios Acquisition's filings with the Securities and Exchange Commission. Navios Acquisition expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Acquisition's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

SOURCE Navios Maritime Acquisition Corporation