This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Deal: Navios Maritime Spends $130M on New Tankers

NEW YORK ( The Deal) -- Piraeus, Greece-based tanker operator Navios Maritime Acquisition Corp. (NNA - Get Report) said Thursday, July 11, that it acquired two newly-built chemical tankers and also exercised options to acquire two medium-range tankers for $130.2 million.

Navios acquired the chemical tankers for $33.6 million each. The vessels are 45,000 dead-weight tonnage apiece, with estimated delivery expected in the third quarter of 2013 when the vessels will be named the Nave Universe and the Nave Constellation.

Navios will also acquire two medium range product tankers for about $31.5 million each. The vessels are product tankers of 51,200 dwt apiece, with estimated delivery expected within the first half of 2015. Navios is expected to finance both of these acquisitions with cash on its balance sheet and 60% bank debt. Navios currently owns 40 vessels: 29 product tankers, four chemical tankers and seven crude tankers. Navios trades on the New York Stock Exchange and has a market cap of $328.2 million.

Written by Thomas Zadvydas

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NNA $1.93 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs