Navios Maritime Acquisition Corporation Endures “Another Hard Quarter Since the Start of the Pandemic”
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the first quarter ended March 31, 2021.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “I am pleased with our results for the first quarter of 2021, another hard quarter since the start of the pandemic. During the first quarter of 2021, Navios Acquisition reported $72.5 million of revenue and $29.1 million of Adjusted EBITDA. While the current market remains difficult, prospects are positive. The IMF projects 2021 global GDP to grow by a virtually unprecedented 6%, and we have experienced modest recovery in the product tanker sector.”
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Tanker Market Remains Difficult Despite Brighter Outlook says Angeliki Frangou, as Navios Maritime Acquisition Corporation Reports Return to Profitability
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results today for the fourth quarter and the year ended December 31, 2020.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “The pandemic materially impacted the tanker sector. In early 2020, collapsing oil demand drove the need for storage. As the pandemic progressed, the recession in the travel and entertainment industries migrated to oil transportation. While we believe the outlook looks brighter now, with countries well into vaccination programs and the travel industry showing signs of