Navios Maritime Acquisition Corporation Announces Extension of Time Charter for Two Chemical Tankers; Fleet Coverage of 94.3% for 2012 and 63.1% for 2013

Navios Maritime Acquisition Corporation NNA announced today that it has agreed to extend the existing charters on the Chemical Tankers Nave Cosmos and Nave Polaris for an additional six-month period ending in Q1 2013. The charterer has also been granted an option to extend the contract for an additional 6-month period, but at an increased rate of $12,188 net per day with 40% profit sharing. Navios Acquisition has contracted 94.3% and 63.1% of its available days on a charter-out basis for 2012 and 2013, respectively. The average charter-out period of Navios Acquisition's fleet is 3.4 years.