Tue, Jul 29, 2014, 8:31 PM EDT - U.S. Markets closed


% | $
Click the to save as a favorite.

Navios Maritime Acquisition Corporation Message Board

  • jdfunnell@sbcglobal.net jdfunnell Dec 23, 2012 12:01 AM Flag

    Lloyd's List seems bullish on Product Tankers

    ....like most of us, I don't subscribe, but the headlines and first 25 words or so, in about three articles, all point in our direction...............Dave

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Bloomberg Trifagura report from Jan 21 - bought 3 MR2s en bloc on subjects. Sounds cheap, eh?NNA has several of these to hit the water this q and with 50/50 over about 13k so earnings could see a bump. I added at 2.62 yesterday. Article says:
      Returns for product tankers are gaining as ships hauling cargoes of crude oil generate weaker earnings. Daily returns for medium-range vessels climbed 6.5 percent to $16,000 since the start of the year, according to data from the London-based Baltic Exchange, while very large crude carriers, the biggest oil tankers, are losing $3,890 a day.

      Trafigura paid between $60 million and $70 million for the vessels, according to Clarkson Plc’s Shipping Intelligence Network, which cited shipbrokers it didn’t identify. The tankers were built between 2008 and 2009 and each has a capacity of about 50,000 deadweight tons, it said.

      Sentiment: Strong Buy

      • 1 Reply to foo_star
      • One cant be sure of the value, since it depends a bit also on if charters were attached. But, the price per vessel ($20-23M) was less than half what NNA paid in 2011 ($44M) for a similar vintage MR2 tanker. Then, they bought 2, but they had attractive 3-yr charters. Even accounting for those, it appears than NNA paid dearly in comparison...

        PIRAEUS, GREECE, Jun 17, 2011 (MARKETWIRE via COMTEX) --

        Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced today that it has agreed to acquire two 50,000 dwt MR2 product tankers built in 2009. The vessels are employed under long-term charter-out contracts with a remaining term of three years. The rates are $22,490 net per day for the first year and $21,503 net per day for the remaining charter out period. Delivery is expected in July 2011.

        The two vessels will generate approximately $11.2 million annual EBITDA and $34.2 million of aggregate EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year. The aggregate purchase price for the two new vessels is approximately $84.8 million, to be paid in cash.

    • Hey, it's Pimco, Tankers, TINY Dave! I've always enjoyed your posts. Good to hear from you! I've been living off my GSL wins, bought at 2.15, sold in the high 7's!!

3.39+0.04(+1.19%)Jul 29 4:02 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.