The 300,549-dwt Shinyo Navigator, built in 1996, was part of a collateral package securing an 8.125% First Priority Ship Mortgage Notes due 2021.
Navios Acquisition said the vessel was released from the collateral package and a newly taken VLCC Nave Galactic was added as collateral. Nave Galactic was purchased for $51.5m.
The 2009-built, 297,168 dwt Nave Galactic was delivered to the Greek shipowner on Tuesday as part of three VLCCs acquired in November 2013.
“Following the delivery of the Nave Galactic and the sale of the Shinyo Navigator, Navios Acquisition has 34 vessels in the water,” the company said.
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