International tanker proprietor and operator Navios Maritime Acquisition Corporation (Navios Acquisition) is proving that it’s a very good time to be within the tanker enterprise, having not too long ago introduced the employment of seven product tankers at elevated charges and a two-year constitution for its not too long ago delivered VLCC, Nave Photon.

In the case of the product tankers, Navios Acquisition stated the seven vessels, comprising 4 LR1 and three MR2 tankers, have had their charters prolonged at charges elevated by roughly 22% on common. Navios Acquisition estimates that collectively the vessels are anticipated generate roughly $33.4 million of mixture EBITDA over the length of the charters, that are 3 years within the case of the LR1s and 1 yr for the MR2s.

The firm has additionally introduced this week the 2008-built VLCC, Nave Photon (297,395 dwt), delivered to the corporate earlier this month, has been scooped up for 2 years at a charge of $40,488 internet per day. The firm says the vessel is anticipated to generate roughly $21.8 million of mixture EBITDA throughout this constitution.

The two bulletins come after the corporate reported internet earnings of $69.6 million for the primary 9 months of 2015 and $23.2 million for the third quarter of 2015. For comparability, Navios reported a internet lack of nearly $14 million within the first 9 months of 2014 and a internet earnings of simply $1.7 million in Q3 2014.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, hailed the “record” figures as “material improvements over the comparable periods in 2014”.

Nave Photon is one in all two VLCCs Navios Acquisition agreed to accumulate in Q3 2015. The different vessel, the 2009-built Nave Spherical (297,188 dwt), was delivered to the corporate in early November and has since been chartered out for 2 years at a charge of $41,475 internet per day.

With the supply of the 2 VLCCs, Navios Acquisition now has 39 vessels on-the-water, comprising of eight VLCCs, 27 product tankers and 4 chemical tankers. 

The information from Navios Acquisition comes as Navios’ dry cargo/container vessel and dry bulk vessel enterprise items, Navios Maritime Partners and Navios Maritime Holdings, respectively, proceed to endure by way of document slumps inside their very own sectors.