Nautilus Takes Delivery of Newbuilding Oil Spill Recovery Vessel "SK Line 69"
to Be Renamed "Vega Jaanca"
ATHENS, GREECE -- (Marketwire) -- 03/22/13 -- Nautilus Marine
Acquisition Corp. (the "Company" or "Nautilus") (NASDAQ: NMAR) today
announced that it has taken delivery of the SK Line 69, to be renamed
Vega Jaanca, a 5150 BHP Anchor Handling vessel, built in December
2012 in China. Nautilus has taken control of the vessel under a
bareboat charter at a daily bareboat charter rate of $4,000, with an
obligation to purchase the vessel at any time during the bareboat
charter, at its option. The vessel has already completed its
conversion into an Oil Spill Response Vessel (OSRV) and is en-route
to Cape Town where the Oil Recovery Equipment will be installed.
Thereafter the vessel will be delivered in Brazil into time charter
employment with Petroleo Brazileiro S.A. ("Petrobras") for 4-years
firm, plus 4-years optional at a contracted gross daily charter rate
Nautilus is a maritime energy services company owning
and operating offshore supply vessels (OSVs) serving oil and gas
exploration and production companies and projects. Nautilus was
incorporated in the Marshall Islands on November 1, 2010 and
maintains executive offices in Athens, Greece. Its common stock
trades on the Nasdaq Market under the symbol "NMAR." Currently,
Nautilus has a fleet of five (5) OSVs comprised of two (2) Platform
Supply Vessels (PSVs) currently serving long-term employment
contracts with Petrobras in Brazil plus an additional three (3) Oil
Spill Response Vessels (OSRVs) at various stages of their delivery
process into their Petrobras long-term employment contracts for work
in Brazil. Nautilus has an additional OSRV time charter contract with
Petrobras for which it has sourced a vessel to fulfil same. All of
our vessels were acquired as newbuilding resales, thus, the average
age of our current operating fleet is less than 1 year.
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forwar
d-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, examination by the
Company's management of historical operating trends, data contained
in its records and other data available from third parties. Although
the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond the Company's control, the Company cannot
assure you that it will achieve or accomplish these expectations,
beliefs or projections.
In addition to these important factors, other important factors that,
in the Company's view, could cause actual results to differ
materially from those discussed in the forward-looking statements
include the strength of world economies and currencies, general
market conditions, including fluctuations in charter rates and vessel
values, changes in demand for dry bulk shipping capacity, changes in
the Company's operating expenses, including bunker prices, drydocking
and insurance costs, the market for the Company's vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption
of shipping routes due to accidents or political events, vessels
breakdowns and instances of off-hires and other factors. Please see
our filings with the Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The
information set forth herein speaks only as of the date hereof, and
the Company disclaims any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this communication.
Co-CEO & CFO
Nautilus Marine Acquisition Corp.
90 Kifissias Avenue,
Investor Relations / Financial Media:
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
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