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Platou: Strong Navios VLCC purchase

The purchase of three VLCC's for a total price of USD 163 million is extremely attractive to Navios, even though the ships are built in China, says Platou.

Navios' decision to purchase three VLCC's, built between 2009 and 2011, for a price of USD 163 million is extremely attractive from a historical perspective. With average break-even rates of USD 19,400 per day for the three ships, the investment will immediately contribute to Navios' revenue, says analysts Platou.

"Once again we find that Navios Acquisition is benefitting from its industry network and is able to pick up “distressed” assets at historically attractive prices," says Platou.

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