Navios Maritime Acquisition Corporation owns a fleet of crude oil, refined petroleum product and chemical tankers providing marine transportation services worldwide. As of March 17, 2016, the company’s fleet consisted of a total of 38 double-hulled tanker vessels, aggregating approximately 4.0 million deadweight tons, or dwt. The fleet includes eight VLCC tankers (approximately 200,000 dwt per ship), which transport crude oil, eight Long Range 1 (LR1) product tankers (60,000-79,999 dwt per ship), 18 Medium Range 2 (MR2) product tankers (30,000-59,999 dwt per ship) and four chemical tankers (25,000 dwt per ship), which transport refined petroleum products and bulk liquid chemicals. Majority of the vessels that the company has taken delivery of are chartered-out to counterparties, including affiliates of Shell, Navig8 and Mansel with an average remaining charter period of approximately 1.3 years. As of March 17, 2016, the company had charters covering 84.7% of available days in 2016 and 44.3% of available days in 2017. Business Strategy The company’s strategy is to strategically manage sector exposure; enhance operating visibility with charter-out strategy; leverage the experience, brand, network and relationships of Navios Holdings; and benefit from Navios Holdings’ risk management practices and corporate managerial support. Customers The company’s major customers during 2015 were Navig8 Chemicals Shipping and Trading Co.; Mansel LTD; and Shell. For the year ended December 31, 2015, these three customers accounted for 35.2%, 10.8% and 13.6%, respectively, of Navios Acquisition’s revenue. Governmental and Other Regulations The company’s vessels are subject to CAA vapor control and recovery standards for cleaning fuel tanks and conducting other operations in regulated port areas, and to CAA emissions standards for ‘Category 3’ marine diesel engines operating in U.S. waters. History Navios Maritime Acquisition Corporation was founded in 2008 under the laws of the Republic of the Marshall Islands. The company was incorporated in 2008.
stratasys ltd (SSYS:NASDAQ GS)
7665 Commerce Way
Eden Prairie, MN 55344
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