Cover
Cover | 6 Months Ended |
Jun. 30, 2020 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2020 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2020 |
Current Fiscal Year End Date | --12-31 |
Entity Registrant Name | NAVIOS MARITIME ACQUISITION CORPORATION |
Entity Central Index Key | 0001437260 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 67,718 | $ 43,561 |
Restricted cash | 764 | 490 |
Accounts receivable, net | 29,563 | 34,235 |
Due from related parties, short term | 2,039 | 16,688 |
Prepaid expenses and other current assets | 9,703 | 12,826 |
Inventories | 5,440 | 6,208 |
Assets held for sale | 83,006 | 0 |
Total current assets | 198,233 | 114,008 |
Vessels, net | 1,318,656 | 1,348,251 |
Goodwill | 1,579 | 1,579 |
Other long-term assets | 9,383 | 5,456 |
Deferred dry dock and special survey costs, net | 43,169 | 37,133 |
Investment in affiliates | 0 | 6,650 |
Due from related parties, long-term | 14,658 | 42,878 |
Total non-current assets | 1,387,445 | 1,441,947 |
Total assets | 1,585,678 | 1,555,955 |
Current liabilities | ||
Accounts payable | 9,776 | 15,355 |
Accrued expenses | 14,078 | 14,337 |
Due to related parties, short-term | 0 | 32,150 |
Dividends payable | 4,809 | 4,711 |
Deferred revenue | 8,290 | 2,433 |
Current portion of long-term debt, net of deferred finance costs | 99,956 | 172,953 |
Liabilities associated with assets held for sale | 50,323 | 0 |
Total current liabilities | 187,232 | 241,939 |
Long-term debt, net of current portion, premium and net of deferred finance costs | 1,061,078 | 1,000,164 |
Total non-current liabilities | 1,061,078 | 1,000,164 |
Total liabilities | 1,248,310 | 1,242,103 |
Commitments and contingencies | 0 | 0 |
Stockholders’ equity | ||
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares of Series C issued and outstanding as of June 30, 2020 and December 31, 2019 | 0 | 0 |
Common stock, $0.0001 par value; 250,000,000 shares authorized; 16,089,890 and 15,873,391 issued and outstanding as of June 30, 2020 and December 31, 2019, respectively | 2 | 2 |
Additional paid-in capital | 512,905 | 521,275 |
Accumulated deficit | (175,539) | (207,425) |
Total stockholders’ equity | 337,368 | 313,852 |
Total liabilities and stockholders’ equity | $ 1,585,678 | $ 1,555,955 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Preferred stock - par value | $ 0.0001 | $ 0.0001 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Common stock shares issued | 16,089,890 | 15,873,391 |
Common stock shares outstanding | 16,089,890 | 15,873,391 |
Common stock - par value | $ 0.0001 | $ 0.0001 |
Common stock shares authorized | 250,000,000 | 250,000,000 |
Series C Preferred Stock [Member] | ||
Common stock shares issued | 0 | |
Common stock shares outstanding | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenue | $ 112,224 | $ 58,585 | $ 210,081 | $ 135,704 |
Time charter and voyage expenses | (3,450) | (4,196) | (9,532) | (8,963) |
Direct vessel expenses | (3,465) | (2,323) | (6,605) | (4,678) |
Vessel operating expenses (management fees entirely through related party transactions) | (29,836) | (26,481) | (59,673) | (54,387) |
General and administrative expenses | (6,293) | (6,808) | (10,247) | (11,945) |
Depreciation and amortization | (16,643) | (17,320) | (33,249) | (35,041) |
Gain on sale of vessels | 0 | 2,594 | 0 | 3,245 |
Interest income | 4 | 2,296 | 7 | 4,456 |
Interest expense and finance cost | (21,680) | (23,696) | (43,523) | (46,625) |
Impairment of receivable in affiliated company / Equity in net earnings of affiliated companies | 0 | 889 | (13,900) | 1,734 |
Other income | 156 | 0 | 0 | 1,333 |
Other expense | 0 | (90) | (1,473) | (522) |
Net income/ (loss) | 31,017 | (16,550) | 31,886 | (15,689) |
Dividend declared on restricted shares | (47) | (65) | (94) | (131) |
Undistributed loss attributable to Series C participating preferred shares | 0 | 0 | 0 | (13) |
Net income/ (loss) attributable to common stockholders, basic | 30,970 | (16,615) | 31,792 | (15,833) |
Undistributed loss attributable to Series C participating preferred shares | 0 | 0 | 0 | 13 |
Net income/ (loss) attributable to common stockholders, diluted | $ 30,970 | $ (16,615) | $ 31,792 | $ (15,820) |
Net income/ (loss) per share, basic | $ 1.95 | $ (1.23) | $ 2.01 | $ (1.18) |
Weighted average number of shares, basic | 15,888,354 | 13,510,361 | 15,803,166 | 13,414,547 |
Net income/ (loss) per share, diluted | $ 1.93 | $ (1.23) | $ 1.99 | $ (1.18) |
Weighted average number of shares, diluted | 16,043,704 | 13,510,361 | 15,958,897 | 13,414,547 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Operating Activities | ||
Net income/ (loss) | $ 31,886 | $ (15,689) |
Adjustments to reconcile net income/ (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 33,249 | 35,041 |
Amortization and write-off of deferred finance fees and bond premium | 3,045 | 2,293 |
Amortization of dry dock and special survey costs | 6,167 | 4,626 |
Stock based compensation | 246 | 460 |
Gain on sale of vessels | 0 | (3,245) |
Impairment loss relating to the investment in Navios Europe II | 13,900 | 0 |
Equity in net earnings of affiliated companies, net of dividends received | 0 | (1,734) |
Changes in operating assets and liabilities: | ||
Decrease/(increase) in prepaid expenses and other current assets | 2,918 | (413) |
Decrease in inventories | 2,489 | 0 |
Decrease in accounts receivable | 3,772 | 8,343 |
Increase in due from related parties, short-term | (2,038) | (15,804) |
Increase in other long term assets | (3,927) | 0 |
(Increase)/ decrease in due from related parties, long-term | (1,845) | 2,431 |
Decrease in accounts payable | (5,362) | (1,834) |
Increase in accrued expenses | 860 | 476 |
Payments for dry dock and special survey costs | (20,421) | (1,662) |
Decrease in due to related parties, short-term | (20,073) | (12,029) |
Increase in deferred revenue | 5,857 | 285 |
Net cash provided by operating activities | 50,723 | 1,545 |
Investing Activities | ||
Loans to affiliates | 0 | (2,000) |
Container vessel owning companies acquisition/ vessels improvements | (44,623) | (5,563) |
Net cash proceeds from sale of vessel | 33,301 | |
Net cash (used in)/ provided by investing activities | (44,623) | 25,738 |
Financing Activities | ||
Loan proceeds, net of deferred finance costs | 133,054 | 98,201 |
Loan repayments | (106,107) | (121,525) |
Dividend paid | (9,564) | (8,240) |
Acquisition of treasury stock | 0 | (366) |
Net proceeds from equity offering | 948 | |
Net cash provided by/ (used in) financing activities | 18,331 | (31,930) |
Net increase/(decrease) in cash, cash equivalents and restricted cash | 24,431 | (4,647) |
Cash, cash equivalents and restricted cash, beginning of period | 44,051 | 46,609 |
Cash, cash equivalents and restricted cash, end of period | 68,482 | 41,962 |
Supplemental disclosures of cash flow information | ||
Cash interest paid | 40,212 | 44,525 |
Non-cash investing activities | ||
Accrued interest on loan to affiliate | 0 | 1,734 |
Container vessel owning companies acquisition | 37,658 | 0 |
Non-cash financing activities | ||
Stock based compensation | 246 | 460 |
Deferred finance costs | 215 | 492 |
Other long term assets | $ 0 | $ 3,095 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance, at Dec. 31, 2018 | $ 0 | $ 1 | $ 522,335 | $ (141,984) | $ 380,352 |
Balance, shares at Dec. 31, 2018 | 1,000 | 13,280,927 | |||
Conversion of preferred stock to common, shares | (1,000) | ||||
Conversion of preferred stock to common, shares | 511,733 | ||||
Acquisition of treasury stock | $ 0 | $ 0 | (366) | 0 | (366) |
Acquisition of treasury stock, shares | (64,289) | ||||
Stock based compensation | 0 | $ 0 | 229 | 0 | 229 |
Dividend paid/ declared | 0 | 0 | (4,121) | 0 | (4,121) |
Net loss | 0 | 0 | 0 | 861 | 861 |
Balance, at Mar. 31, 2019 | $ 0 | $ 1 | 518,077 | (141,123) | 376,955 |
Balance, shares at Mar. 31, 2019 | 0 | 13,728,371 | |||
Balance, at Dec. 31, 2018 | $ 0 | $ 1 | 522,335 | (141,984) | 380,352 |
Balance, shares at Dec. 31, 2018 | 1,000 | 13,280,927 | |||
Net loss | (15,689) | ||||
Balance, at Jun. 30, 2019 | $ 0 | $ 1 | 514,189 | (157,673) | $ 356,517 |
Balance, shares at Jun. 30, 2019 | 0 | 13,728,371 | |||
Balance, at Mar. 31, 2019 | $ 0 | $ 1 | 518,077 | (141,123) | $ 376,955 |
Balance, shares at Mar. 31, 2019 | 0 | 13,728,371 | |||
Stock based compensation | $ 0 | $ 0 | 231 | 0 | 231 |
Dividend paid/ declared | 0 | 0 | (4,119) | 0 | (4,119) |
Net loss | 0 | 0 | 0 | (16,550) | (16,550) |
Balance, at Jun. 30, 2019 | $ 0 | 1 | 514,189 | (157,673) | $ 356,517 |
Balance, shares at Jun. 30, 2019 | 0 | 13,728,371 | |||
Balance, at Dec. 31, 2019 | $ 2 | 521,275 | (207,425) | $ 313,852 | |
Balance, shares at Dec. 31, 2019 | 0 | 15,873,391 | |||
Stock based compensation | $ 0 | $ 0 | 123 | 0 | 123 |
Continuous Offering Program (see Note 15) | 0 | 304 | 304 | ||
Continuous Offering Program program, shares | 63,545 | ||||
Dividend paid/ declared | 0 | $ 0 | (4,755) | 0 | (4,755) |
Net loss | 0 | 0 | 0 | 869 | 869 |
Balance, at Mar. 31, 2020 | $ 0 | $ 2 | 516,947 | (206,556) | 310,393 |
Balance, shares at Mar. 31, 2020 | 0 | 15,936,936 | |||
Balance, at Dec. 31, 2019 | $ 2 | 521,275 | (207,425) | 313,852 | |
Balance, shares at Dec. 31, 2019 | 0 | 15,873,391 | |||
Net loss | 31,886 | ||||
Balance, at Jun. 30, 2020 | $ 0 | $ 2 | 512,905 | (175,539) | 337,368 |
Balance, shares at Jun. 30, 2020 | 0 | 16,089,890 | |||
Balance, at Mar. 31, 2020 | $ 0 | $ 2 | 516,947 | (206,556) | 310,393 |
Balance, shares at Mar. 31, 2020 | 0 | 15,936,936 | |||
Stock based compensation | $ 0 | $ 0 | 123 | 0 | 123 |
Continuous Offering Program (see Note 15) | 0 | 644 | 0 | 644 | |
Continuous Offering Program program, shares | 152,954 | ||||
Dividend paid/ declared | 0 | $ 0 | (4,809) | 0 | (4,809) |
Net loss | 0 | 0 | 0 | 31,017 | 31,017 |
Balance, at Jun. 30, 2020 | $ 0 | $ 2 | $ 512,905 | $ (175,539) | $ 337,368 |
Balance, shares at Jun. 30, 2020 | 0 | 16,089,890 |
Description of Organization and
Description of Organization and Business Operations | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Business Description and Basis of Presentation [Text Block] | N O DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Description of Organization and Business Operations Navios Maritime Acquisition Corporation ( “ a e m e c a a t t i n n o o u v e a e e M a e Navios Acquisition was incorporated in the Republic of the Marshall Islands on March 14, 2008 July 1, 2008 c e e o f i i t t a e s n p On November 22, 2019, an agreement was reach e e e e e 2 0 s five In October 2019, Navios Acquisition complet e e 1,875,000 8.00 a 15,000 e 675 957 13,368 On November 29, 2019, Navios Acquisition ent e r g r a e s f i a 25,000 h a r v i e v d o n i a e a m t o 486,519 a 3,047 On April 21, 2020, an agreement was reached to liquidate Navios Europe II. As a result of the liquidation, which was completed in June 2020 (“Liquidation of Navios Europe II”), Navios Acquisition acquired seven vessel owning companies. The vessels are containerships and meet the criteria to be accounted for as held for sale. As of June 30, 2020, Navios Maritime Holdings Inc. (“N a 30.2 30.5 t e As of June 30, 2020, Navios Acquisition had: 16,089,890 g |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | N O SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies (a) Basis of presentation: The accompanying interim condensed c t b o a i d t t t e a i n a e sa a o h l e i i a t m c a e a e r u t n a c o r (ab) Recent accounting pronouncements In March 2020, the FASB i s 0 f d a r a d i l u e a S h r a e t m 2 December 31, 2022. The company is currently evaluating the impact of ASU 2020-04 on our c In August 2018, FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Val u r e t i e i h a t e a e t c ci a s t at e e n t s In October 2018, FASB issued ASU 2018-17, C e a e a e e r t e s t s T consistent with how in d i e o e r i a a e i ” l n e n e a a e c ea e 2 0 a t l t c a a e t s In January 2017, the FASB issued ASU No. 2017-04, Intangib l T h Impairment. The ASU is effective for periods beginning after Dec e r a one-step quantitative impairment test, whereby a goodwill impairment loss will be measured as the excess of a reporti n d e n i u t e i e ’ In June 2016, FASB issued ASU 2016-13, “ F i a t t . t i e t m e a s a e e c lo h e d a t b l a v - h f a i F c h m f b e h t m a ec (b) Principles of consolidation: The accompanying consolidated finan c i d a i i a e a t e The Company also consolidates entities that are determined to be variable interest e n e e e a t i a e c a t e e e t e a a i e t t a t i s t t i i i a t e e t a l e e i t e u i o t e e l s e t i i c e i t l a t a c t t e i Based on internal for e n a d r a a m e a a l f t (c) Equity method investments Aff i a t i e c m e a b e r n o a i r e a s l t e a u c e l e a h W a e i i a a n p e s o l i a e Navios Acquisition evaluates its equity method investmen t o r r r a o i a a i a t e i t e t i l i i e (d) Subsidiaries Subs i i a i e i c h o i se o e i f e a l i n i c e s s e t c i a i e As of June 30, 2020, the entities included in these consolidated financial statements were: Summary of Significant Accounting Policies - Subsidiaries (Table) Navios Maritime Acquisition Corporation and Subsidiaries: Nature Country of Incorporation 2020 2019 Company Name Aegean Sea Maritime Holdings Inc. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amorgos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Andros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antikithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antiparos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amindra Navigation Co. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Crete Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Folegandros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ikaria Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ios Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Kithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Mytilene Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Acquisition Corporation Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Finance (U.S.) Inc. Co-Issuer Delaware 1/1 – 6/30 1/1 – 6/30 Rhodes Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Serifos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Loyalty Limited Former Vessel-Owning Company(1) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Navigator Limited Former Vessel-Owning Company(2) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sifnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skiathos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skopelos Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Syros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thera Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Oinousses Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Psara Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipsara Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samothrace Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thasos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Limnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skyros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alonnisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Makronisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Iraklia Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Paxos Shipping Corporation Former Vessel-Owning Company(5) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipaxos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Donoussa Shipping Corporation Former Vessel-Owning Company(6) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Schinousa Shipping Corporation Former Vessel-Owning Company(7) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Europe Finance Inc Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kerkyra Shipping Corporation Vessel-Owning Company(3) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Lefkada Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Zakynthos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Leros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kimolos Shipping Corporation Former Vessel-Owning Company(13) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tilos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Delos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Agistri Shipping Corporation Operating Subsidiary Malta 1/1 – 6/30 1/1 – 6/30 Olivia Enterprises Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Cyrus Investments Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Doxa International Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tzia Shipping Corp. Vessel-Owning Company(10) Marshall Is. 6/4 – 6/30 – Navios Maritime Midstream Partners GP LLC Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Operating LLC Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners L.P. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners Finance (US) Inc. Co-borrower Delaware 1/1 – 6/30 1/1 – 6/30 Shinyo Kannika Limited Former Vessel-Owning Company Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Ocean Limited Former Vessel-Owning Company(11) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Saowalak Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Kieran Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Dream Limited Former Vessel-Owning Company(12) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sikinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alkmene Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Persephone Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Rhea Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Aphrodite Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Dione Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Bole Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Boysenberry Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Brandeis Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Buff Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cadmium Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Celadon Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cerulean Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — (1) F t (2) F i (3) Navios Midstream acquired all of the outstanding shares of capital stock of the vessel-owning subsidia r (4) E i e i (5) F uc c a l 0 (6) F i (7) F 2 (8) Currently, vessel-operating company un d a a e s e c t t (9) T (10) Bareboat chartered - e h r (11) In March 2019, the Shinyo Ocean, a 2001-built VLCC vessel of 281,395 d w a a e 1 n 2001-built VLCC 281,395 t 12,525 (12) On March 25, 2019, Navios Acquisition s o 2000-built VLCC 298,570 r p t a c 21,750 (13) On October 8, 2019, Navios Acquisition sold the Nave Electron, a 2002-built VLCC e 305,178 f t $ 25,250 (14) In December 2019, Navios Acquisition a c r o i (15) In June 2020, Navios Acquisition a c i (g) Assets / Liabilities associated with Assets Held for Sale It is the Company’s policy to dispose of vessels and other fixed assets when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies assets and disposal groups as “being held for sale” when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. (f) Revenue and Expense Recognition R e e u c i On January 1, 2018, the Company adopted the provisions of ASC 6 0 6 0 ) s a t e o u h o p e o a e n a e s i m a r ( t a i i e n In February 2016, the FASB i s s i a e a e i l e s c c w i c 0 e o S T 8 h 4 i e a a p i 2 I i e j t t h The Company has elected to early adopt the requirements of ASU 2016-02 effective Janua r i t v h h r e o e c i e l e a s c o w e e i a e e h o h o l h e p o t m a t c a a n The Company’s contract revenues from time chartering and p o o p a p o r m c t e a t i c t c c m e m c l e i s r e o n - t a a a a o e m e c e In December 2018, FASB issued ASU 2018-20, Leases (Topic 8 4 ) e m a t a e l c e e c e t e a t l p a t d i t a a a t e e Revenue from time chartering Revenues from time chartering of v e a c a av e age h e c a t t e e a e m m a a i e w a e c i a a c a l 74,824 41,143 129,166 88,735 Pooling arrangements For vessels operating in pooling a r o e r n b a e r u t e h o p i w 16,682 13,430 39,358 32,596 Revenue from voyage contracts The Company’s revenues earned under voyage c s a n p u r r o e e t e f 0 3,639 9,713 9,678 n 0 103 o P n u h o 1,910 12,219 ) s Revenue from profit sharing Profit-sharing reve n r la e a a c t a t e t c t e e e i m l a e u 20,718 373 31,844 4,695 Revenues are recorded net of address commis s c e p r f b e v f a e e s c i t e Options to extend or termi n The Company’s vessels have the following options to extent or renew their charters: Summary of Significant Accounting Policies - Options to extend or terminate a lease (Table) Vessel Option Hector N Charterer’s option to extend the charter for one year at $ 15,800 Nave Sextans Charterer’s option to extend the charter for one year at $ 18,750 Nave Pulsar Charterer’s option to extend the charter for one year at $ 16,590 Nave Rigel Charterer has the option to charter the vessel for an optional year at a rate of $ 17,063 Nave Cetus Charterer’s option to extend the charter for six months at $ 16,788 Nave Equinox Charterer’s option to extend the charter for six months at $ 16,788 Nave Aquila Charterer's option to extend the charter for one year at $ 16,886 Nave Titan Charterer's option to extend the charter for 30-90 days at $ 12,838 15,306 TBN 1 Charterer’s option to extend the bareboat charter for five years at $ 29,751 TBN 2 Charterer’s option to extend the bareboat charter for five years at $ 29,751 |
Cash and Cash Equivalents And R
Cash and Cash Equivalents And Restricted Cash | 6 Months Ended |
Jun. 30, 2020 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents Disclosure [Text Block] | N O CASH AND CASH EQUIVALENTS AND RESTRICTED CASH Cash and Cash Equivalents And Restricted Cash Cash and cash equivalents c Cash and Cash Equivalents and Restricted Cash - Schedule (Table) June 30, 2020 December 31, 2019 Cash on hand and at banks $ 67,718 $ 43,561 Restricted cash 764 490 Total cash, cash equivalents and restricted cash $ 68,482 $ 44,051 Cash deposits and cash equivalents in excess of amounts cove r e s u r a v e f s t Restricted cash includes amounts held in r e c i e c i e |
Inventories, Prepaid Expenses A
Inventories, Prepaid Expenses And Other Current Assets | 6 Months Ended |
Jun. 30, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | NOTE 4: INVENTORIES, PREPAID EXPENSES AND OTHER CURRENT ASSETS Inventories, Prepaid Expenses And Other Current Assets Inventories, prepaid expenses and other current assets consisted of the following: Inventories, Prepaid Expenses and Other Current Assets (Table) June 30, 2020 December 31, 2019 Inventories $ 5,440 $ 6,208 Advances for working capital purposes 5,350 7,250 Insurance claims 3,384 4,785 Voyage charters deferred contract costs and other 969 791 Total inventories, prepaid expenses and other current assets $ 15,143 $ 19,034 |
Vessels, Net
Vessels, Net | 6 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5: VESSELS, NET Vessels, Net Vessels, Net Vessels, Net (Table) Vessels Cost Accumulated Depreciation Net Book Value Balance at December 31, 2018 $ 1,687,274 $ (303,669) $ 1,383,605 Additions/ (Depreciation) 102,637 (63,935) 38,702 Disposals (77,922) 11,153 (66,769) Impairment loss (7,287) — (7,287) Balance at December 31, 2019 $ 1,704,702 (356,451) 1,348,251 Additions/ (Depreciation) 3,654 (33,249) (29,595) Balance at June 30, 2020 $ 1,708,356 $ (389,700) 1,318,656 Additions of vessels 2020 As of June 30, 2020, certain extraordinary fees and costs related to vessels’ regula t a a e a m 3,654 p t e s 2019 As of December 31, 2019, certain extrao r n l a e e a 18,207 During the quarter ended December 31, 2019, Navios Acquisition acquired five u o 84,430 o h 32,500 33,210 P I For each of the vessels purchased from Navios Europe I, the acquisition of all ves s l c a t a o h c e a u l e Disposals of vessels 2019 On March 25, 2019, Navios Acquisition sold the C. Dream, a 2000-built VLCC 298,570 d r 21,750 651 ” On May 10, 2019, following a collision incident, Navios Acqu i 2001-built VLCC 281,395 n 12,525 On October 8, 2019, Navios Acq u o 2002-built VLCC 305,178 25,250 Impa i m 2019 During the year ended December 31, 2019 and as a result of the impairment review performed, it was determined that the carrying amount of one tanker was not recoverable and, therefore, an impairment loss of $7,287 was recognized. |
Intangible Assets Other Than Go
Intangible Assets Other Than Goodwill | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | NOTE 6: INTANGIBLE ASSETS OTHER THAN GOODWILL Intangible Assets Other Than Goodwill On December 13, 2018, Navios Acquisition acquired, as part of the Merger, at fair value, the intangible assets of Navios Midstream, consisting of f a a e s e s Intangible assets as of June 30, 2020 and December 31, 2019 we r 0 On September 25, 20 1 a a . “ a a t e c a l te e h e e h a n n p l a a 48,153 54,388 r t two e COSCO Dalian was removed from the Specially Designated Nationals and Blocked Persons list on January 31, 202 0 Amortization expense of favorable lease terms for the three and six month periods ended June 30, 2020 and 2019 is presented in the following table: Intangible Assets Other Than Goodwill - Amortization (Expense) / Income (Table) Three Month Period Ended Six Month Period Ended June 30, June 30, June 30, June 30, Favorable lease terms charter-out $ — $ (1,319 ) $ — $ (2,639 ) Total $ — $ (1,319 ) $ — $ (2,639 ) |
Assets_ Liabilities Associated
Assets/ Liabilities Associated with Assets Held for Sale | 6 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Disclosure of Long Lived Assets Held-for-sale [Table Text Block] | NOTE 7: ASSETS/ LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE Assets/ Liabilities Associated with Assets Held for Sale Following the Liquidation of Navios Europe II (Note 8) on June 29, 2020, Navios Acquisition acquired seven vessel owning companies. For each of the vessels purchased from Navios Europe II, the acquisition of all vessels was effected through the acquisition of all of the capital stock of the respective vessel-owning companies, which held the ownership and other contractual rights and obligations related to each of the acquired vessels, including the respective charter-out contracts. Management accounted for each acquisition as an asset acquisition under ASC 805. At the transaction date, the purchase price approximated the fair value of the assets acquired, which was determined based on a combination of methodologies including discounted cash flow analyses and independent valuation analyses. Upon acquisition of the vessel owning companies, the Company assessed that all the held for sale criteria were met for their assets, mainly consisting of the vessels owned and reviewed the carrying amount in connection with their fair market value less any costs to sell. The review indicated that such carrying amounts were not in excess of the fair value less any costs to sell. Therefore, no loss was recorded in the accompanying condensed consolidated statement of income. Furthermore, liabilities associated with the assets held for sale are separately presented under Liabilities associated with assets held for sale in the accompanying condensed consolidated balance sheet. The major class of assets held for sale consist of the carrying value of the vessels amounting to $ 79,080 41,700 |
Investment in Affiliates
Investment in Affiliates | 6 Months Ended |
Jun. 30, 2020 | |
Investments in and Advances to Affiliates [Abstract] | |
Investments in and Advances to Affiliates [Table Text Block] | N O INVESTMENT IN AFFILIATES Investment in Affiliates Navios Europe I On October 9, 2013, Navios Hold i i a t o 47.5 47.5 5.0 u ten f s g r 10,000 i c e N e ” a s loan fa c i t i ur o 24,100 v a a 30,000 A t 50 50 0 On an ongoing basis, Navios Europe I was required to distribute cash flows (after payme n n r e l l a i Following the Liquidation of Navios Europe I, Navios Acquisition acqu i five 84,627 As of June 30, 2020 and December 31, 2019 a For the three month period end e i e e 297 e i e e 583 Navios Europe II On February 1 v i i t i 47.5 47.5 5.0 t 50.0 50.0 0 I fourteen c 145,550 h 131,550 i a 14,000 d i c ec t N e ” a s I 182,150 99,147 o i r e 57,500 i v n r i a 5,000 On an ongoing basis, Navios Europe II was required to distribute cash flows (after payment of operating expen s o d d e a As of June 30, 2020 and subsequent to the Liquidation of Navios Europe II, the Company had no exposure. As of December 31, 2019, the estimated maximum potential loss by Navios Acquisition in Navios Europe II was $ 51,558 6,650 28,220 16,688 The decline in the fair value of the investment was considered as other-than-temporary and, therefore, an aggregate loss of $ 13,900 For the three month periods end e i e e 0 592 e i i e e 13,900 1,151 |
Dividends Payable
Dividends Payable | 6 Months Ended |
Jun. 30, 2020 | |
Dividends Payable | |
DIVIDENDS PAYABLE | N O DIVIDENDS PAYABLE Dividends Payable On January 22, 2020 0.30 April 7, 2020 March 5, 2020 On April 29, 2020 0.30 July 9, 2020 June 3, 2020 The declaration and payment of any further dividends remain subject to the discretion of the Boa r i t q o ’ e u r b |
Accrued Expenses
Accrued Expenses | 6 Months Ended |
Jun. 30, 2020 | |
Accrued Expenses | |
[custom:AccruedLiabilitiesDisclosureTextBlock] | N O ACCRUED EXPENSES Accrued Expenses Accrued expenses as of June 30, 2020 and December 31, 2019 consisted of the following: Accrued Expenses - Schedule (Table) June 30, 2020 December 31, 2019 Accrued voyage expenses $ 2,052 $ 2,643 Accrued loan interest 8,286 10,468 Accrued legal and professional fees 3,740 1,226 Total accrued expenses $ 14,078 $ 14,337 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | NOTE 11: BORROWINGS Borrowings Schedule of Borrowings Borrowings - Schedule (Table) June 30, 2020 December 31, 2019 Eurobank Ergasias S.A. $52,000 — 28,758 DVB Bank S.E. and Credit Agricole Corporate and Investment Bank 37,891 39,453 Ship Mortgage Notes $670,000 658,000 658,000 Deutsche Bank AG Filiale Deutschlandgeschäft and Skandinaviska Enskilda Banken AB 19,065 39,173 BNP Paribas $44,000 26,000 28,000 HSH $24,000 17,135 18,280 HCOB $31,800 30,108 31,800 Deutsche Bank AG Filiale Deutschlandgeschäft — 32,500 Eurobank S.A. $20,800 20,800 — Total credit facilities 808,999 875,964 Sale and Leaseback Agreements–$71,500 58,094 62,563 Sale and Leaseback Agreements–$103,155 93,189 97,723 Sale and Leaseback Agreements–$15,000 13,281 14,219 Sale and Leaseback Agreements–$47,220 43,133 45,858 Sale and Leaseback Agreements–$90,811 85,158 90,811 Sale and Leaseback Agreements–$72,053 72,053 — Total borrowings 1,173,907 1,187,138 Less: Deferred finance costs, net (13,318) (14,638) Add: bond premium 445 617 Less: current portion of credit facilities, net of deferred finance costs (61,261) (141,214) Less: current portion of Sale and Leaseback Agreements, net of deferred finance costs (38,695) (31,739) Total long-term borrowings, net of current portion, bond premium and deferred finance costs $ 1,061,078 $ 1,000,164 Long-T e r e b i r e d i r r e n Ship Mortgage Notes: 8 1/8% First Priority Ship Mortgages: November 13, 2013 n c i 610,000 d November 15, 2021 8.125 On March 31, 2014 60,000 r n e , e a 103.25 b The 2021 Notes are fully and uncond i a ’ e s The 2021 Co-Issuers cur r e 106.094 2 r In addition, upon the occurrence of certain c h r the 2021 Co-Issuers to repurchase some or all of the 2021 Notes at 101 t repur c a s da e The 2021 Notes contain covenants which, am o i i r a a a s e e t c t a i t i r r e Following the acquisition of the Star N and the Hector N MR1 product tankers from Navios Europe I, t h g a 25,405 r o c In the fourth quarter of 2019, Navios Acqu i 12,000 9,950 1,940 The 2021 Co-Issuers were in compliance with the covenants as of June 30, 2020. The Existing Notes and the Addit i l t u r d a m m e i E t e I Guarantees The Company’s 2021 Notes are fully and unconditionally guaranteed on a joint and several basis by all of the Company’s subsidiaries with the exception of Navios Acquisition Finance (a co-issuer of the 2021 Notes) and the exception of Navios Midstream subsidiaries. The Company’s 2021 Notes are unregistered. The guarantees of the Company’s subsidiaries that own mortgaged vessels are senior secured guarantees and the guarantees of Company’s subsidiaries that do not own mortgaged vessels are senior unsecured guarantees. All subsidiaries, including Navios Acquisition Finance and Navios Midstream subsidiaries are 100 C r i i e As of June 30, 2020, the Company had sec u i t 150,999 On December 6, 2010 52,000 46,200 two 23,100 two LR1 product tanker 32 quarterly 306 13,308 LIBOR plus 300 bps 27,534 50 In November 2015, Navios Acquisition, entered into a term loan facility of up to $ 125,000 five Four five 20 quarterly 435 1,896 16 quarterly 709 803 LIBOR plus 295 bps 26,770 297 16,272 26 19,065 In December 2019, Navios Acquisit i l $ 32,500 one MR1 and two LR1s r e a one r e LIBOR plus 400 bps 32,500 In June 2020, Navios Acquisit i $ 20,800 two LR1s 16 quarterly 800 8,000 LIBOR plus 300 bps 20,800 In June 2020, Navios Acquisition entered into a loan agreement with Hamburg Commercial Bank AG of $ 41,700 seven 4 quarterly 21,700 LIBOR plus 375 bps 41,700 n Amounts drawn under the fac i u a e c i i c o t i e l i e e n s l a h g e i r e c i d a t i a e e l c l m As of June 30, 2020 no amount w a o S ale and Le a b A e e n As of June 30, 2020, the Company had sale and leaseback agreements with various unrelated third parties with a total outstanding balance of $ 364,908 As of June 30, 2020 and December 31, 2019, the deposits under the sale and leaseback agreements were $ 9,058 5,456 In June 2020, Navios Acquisit i 72,053 e one MR1, one MR2 and two LR1s r q four seven quarterly a m 1,791 26,963 e LIBOR plus a margin ranging from 390 bps to 410 bps e v e f e 72,053 The ma t a l l c in s e c i e c a e e an 0 e e u Long-Term Debt Obligations Borrowings - Long-Term Debt Obligations (Table) June 30, Long-Term Debt Obligations: 12 month period ending June 30, 2021 102,608 June 30, 2022 757,620 June 30, 2023 67,364 June 30, 2024 92,908 June 30, 2025 32,144 June 30, 2026 and thereafter 121,263 Total $ 1,173,907 The financing arrangements i n e d i 40,000 1,000 ( 50,000 135,000 i b to a a s s e t s l h 75 80 c 0 80 85 v h i o m e t i i a e i t e a t As of June 30, 2020, the Company was in compliance with its covenants. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | N O N U N Fair Value of Financial Instruments The following methods and assumptions were used to estim a l c r u e Cash and cash equivalents: l h r e e p u o R e t i t h l r A c u n t e v n e t o Accounts payable: r e Due f r e a e r a Other long-term debt, net of def e re n n a f f e Ship Mortgage Notes a n a Fair value of Financial Instruments Fair value of Financial Instruments - Schedule (Table) . June 30, 2020 December 31, 2019 Book Value Fair Value Book Value Fair Value Cash and cash equivalents $ 67,718 $ 67,718 $ 43,561 $ 43,561 Restricted cash $ 764 $ 764 $ 490 $ 490 Accounts receivable $ 29,563 $ 29,563 $ 34,235 $ 34,235 Accounts payable $ 9,776 $ 9,776 $ 15,355 $ 15,355 Ship mortgage notes and premium $ 654,694 $ 382,186 $ 653,614 $ 527,005 Other long-term debt, net of deferred finance costs $ 506,340 $ 515,907 $ 519,503 $ 529,138 Due from related parties, long-term $ 14,658 $ 14,658 $ 42,878 $ 42,878 Fair Val u e u r e n T m e a a i a m e t r r s Level I: Inputs are una d j t t i Level II: Inputs other than quoted prices included in Level I t h t e e e Level III: Inputs that are unobservable. The Company did not use any Level III inputs as of June 30, 2020 and December 31, 2019. Fair Value of Financial Instruments measured on a Non-Recurring Basis Fair Value of Financial Instruments - Non-Recurring Measurements (Table) Fair Value Measurements at June 30, 2020 Using Total Level I Level II Level III Cash and cash equivalents $ 67,718 $ 67,718 $ — $ — Restricted cash $ 764 $ 764 $ — $ — Accounts receivable $ 29,563 $ 29,563 $ — $ — Accounts payable $ 9,776 $ 9,776 $ — $ — Ship mortgage notes and premium $ 382,186 $ 382,186 $ — $ — Other long-term debt (1) $ 515,907 $ — $ 515,907 $ — Due from related parties, long-term (2) $ 14,658 $ — $ 14,658 $ — Fair Value Measurements at December 31, 2019 Using Total Level I Level II Level III Cash and cash equivalents $ 43,561 $ 43,561 $ — $ — Restricted cash $ 490 $ 490 $ — $ — Accounts receivable $ 34,235 $ 34,235 $ — $ — Accounts payable $ 15,355 $ 15,355 $ — $ — Ship mortgage notes and premium $ 527,005 $ 527,005 $ — $ — Other long-term debt (1) $ 529,138 $ — $ 529,138 $ — Due from related parties, long-term (2) $ 42,878 $ — $ 42,878 $ — (1) T l d e e (2) T o e |
Transactions with Related Parti
Transactions with Related Parties | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | N O TRANSACTIONS WITH RELATED PARTIES Transactions with Related Parties Vessel operating expenses (management f a 2 m n a i e 6.5 a 7.15 9.5 Following the Merger with Navios Midstream, completed on December 13, 2018, the Management Agree m e In August 2019, Navios Acquisition extended t h u m a i a e e r two years 0 6.8 a 7.23 9.7 e 0.05 3 h i e a e Following the Liquidation of Navios Europe I in December 2019, Navios Acq u o three two R a o two years r 0 6.8 7.23 h i e 0.05 n 3 Following the Liquidation of Navios Europe II, Navios Acquisition acquired seven a 5.3 6.1 Drydocking expenses are reimburs e For the six month periods end e n 3,654 5,563 n s Total vessel operating expenses for the three month periods ended June 30, 2020 and 2019 amounted to $ 29,836 26,481 59,673 54,387 G e e r p e s s 2 v i i v g r n e ce a a a i i e s a a e c d c s t e 0 e e i t a Following the Merger with Navios Midstream, completed on December 13, 2018, the Administrative Services Agreement covered the v e In August 2019, Navios Acquisition extended t h t 0 h r m l e a e e c e i t i i e i t i e e e m a Following the Liquidation of Navios Europe I in December 2019, Navios Acq u o three two R e T m a S e i c e e m l e e l c i Following the Liquidation of Navios Europe I u o seven T m a S e i c e e m l e e l c i For each of the three month periods ended June 30, 2020 and 2019 the expense arising from administrative services rendered by the Manager amounted to $ 2,985 2,761 5,987 5,626 Balance due from/ (to) related parties (exluding Navios Europe II): 16,697 14,658 0 32,150 1,845 Navios Midstream M e r e e n a e e e e e w i a s O mn i u e e n A c b u r e e n n g n i r i x n e a n o o m r - c i a w i h i i t e a a l t s i a e s r a a l l e t a a li y Mid s e u A e e n d r d h o v i d r i h C m r m a g c c Under the Midstream Omnibus Agreement, Navios Midstream and its s o i l L i e w i s e N a vio a s p f ( p a c a a l a s e Navios C e u A ee m e n a w n t v i a c o r e i f u x e t a a a a e e t w i p Navios Midstream G e e r e p e i e m a e n n t m e i i t n e i a e e c a i r t a a e h c e i l a t t w e i e e n c t i i i a Balance due from Navios Europe II: i a i l a 43,500 r e a a e a s e 14,000 Following the Liquidation of Navios Europe II, the balance due from Navios Europe II as of June 30, 2020 was $ 0 44,908 20,662 7,558 16,688 |
Commitments and Contigencies
Commitments and Contigencies | 6 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | N O COMMITMENTS AND CONTINGENCIES Commitments and Contigencies In September 2018, Navios Acqui s 12-year e n n two i r fourth quarter of 2020 first quarter of 2021 p i 12 year b a e t p r c second quarter of 2021 twelve year second quarter of 2022 The future minimum commitments as of June 30, 2020 of Navios Acqui s a Commitments and Contigencies - Minimum Future Commitments (Table) Amount Lease Obligations (Time Charters) for vessels to be delivered: 12 month period ending June 30, 2021 10,397 June 30, 2022 25,740 June 30, 2023 33,434 June 30, 2024 33,526 June 30, 2025 33,434 June 30, 2026 and thereafter 264,952 Total $ 401,483 The Company is involved in various disputes and arbitration proceedings arising in t h n e n m a m t i t p a |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | N O COMMON STOCK Common Stock C ommon Stock a n u c In February 2018, the Board of Di r v i 25.0 two years c t i c a i r t a r i a r c 9 ir t c February 2020 c c e l 735,251 r o 7,493 Equity Offering In October 2019, Navios Acquisition complet e e 1,875,000 8.00 a 15,000 e 675 957 13,368 Continuous O f On November 29, 2019, as further updated on December 23, 2019 to provide for Navios A c l u e n a e m g 25,000 h a r v i e v d o n i a e a m t o r 486,519 a 3,047 As of June 30, 2020, the Company was authorized to issue 250,000,000 0.0001 16,089,890 Sto c s e c p n i During the fiscal year 2019 and the six month period ended June 30, 2020, the Company did not authorize and issue any restricted shares of common stock to its directors and officers. 2 0 In December 2018, Navios Acquisition authorized and issued in the aggregate 129,269 restricted shares of common stock to its directors and officers. These awards of restricted common stock are based on service conditions only and vest over four years T e t t t a t l h r h 5.36 693 Compensation expense is recognized based on a g r The effect of compensation expense a r e 47 90 r i r n c e i m t e c a i t e 94 179 There were no t u n 0 As of June 30, 2020 and December 31, 2019, there remained 95,452 and 96,952 t The estimated compensation cost relating to service conditions of non-vested res t 233 o e 2.5 2 0 In December 2017, Navios Acquisition authorized and issued in the aggregate 118,328 restricted shares of common stock to its directors and officers. These awards of restricted common stock are based on service conditions only and vest over four years T e t t t a t l h y 17.7 2,094 Compensation expense is recognized based on a g r The effect of compensation expense a r e 76 141 c r a xp e e n c e i m t e c a i t e 152 281 There were no t u n 0 As of June 3 0 58,496 59,162 t The estimated compensation cost relating to service conditions of non-vested res t 267 o e 1.5 |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2020 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | NOTE 16: SEGMENT INFORMATION Segment Information Navios Acquisition reports f a e c e ma w e m e a a one The following table sets out operating revenue by geographic r e e l h a e Revenue by Geographic Region Vessels operate on a worldwi d a i i e t c l ti t a e p n Revenue by Geographic Region Segment Information - Revenue by Geographic Region (Table) Three Month Three Month Six Month Six Month Asia $ 87,753 $ 43,466 $ 161,265 $ 101,784 Europe 16,659 4,232 33,558 9,148 United States 7,812 10,887 15,258 24,712 Total $ 112,224 $ 58,585 $ 210,081 $ 135,704 |
Earnings_ (Loss) per Common Sha
Earnings/ (Loss) per Common Share | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | N O EARNINGS/ (LOSS) PER COMMON SHARE Earnings/ (Loss) per Common Share Earnings/ (loss) per share is calculated by dividing net income attributable to common stockholders by the weighted average number of shares of common stock of Navios Acquisition outstanding during the period. Earnings/ (loss) per Common Share Earnings/ (loss) per Common Share - Calculation per Share (Table) For the Three For the Three For the Six For the Six Numerator: Net income/ (loss) $ 31,017 $ (16,550) $ 31,886 $ (15,689) Less: Dividend declared on restricted shares (47) (65) (94) (131) Undistributed loss attributable to Series C participating preferred shares — — — (13) Net income/ (loss) attributable to common stockholders, basic $ 30,970 $ (16,615) $ 31,792 $ (15,833) Plus: Undistributed income attributable to Series C participating preferred shares — — — 13 Net income/ (loss) attributable to common stockholders, diluted $ 30,970 $ (16,615) $ 31,792 $ (15,820) Denominator: Denominator for basic net income/ (loss) per share — weighted average shares 15,888,354 13,510,361 15,803,166 13,414,547 Series C participating preferred shares — — — — Denominator for diluted net income/ (loss) per share — adjusted weighted average shares 16,043,704 13,510,361 15,958,897 13,414,547 Net income/ (loss) per share, basic $ 1.95 $ (1.23) $ 2.01 $ (1.18) Net income/ (loss) per share, diluted $ 1.93 $ (1.23) $ 1.99 $ (1.18) |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 18: INCOME TAXES Income Taxes Marshall Islands, Cayman Islands, B a r o r a a a c g In a c a e l l c e l a i g e c i e e c s c e w a e t h h a p r e I a t a i r The amount included in Navios Acquisition’s statements of operations related to the Greek Tonnage tax for the six months ended June 30, 2020,and 2019 was $ 959 399 69 233 Pursuant to Section 883 of the Internal Rev e ( p e c o r s i a e i f e s i ia r e t r e c a l c t a h e e t c i e a e i l o i i a a e |
Subsequent events
Subsequent events | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 19: SUBSEQUENT EVENTS Subsequent events On July 28, 2020 e i 0.30 October 8, 2020 September 4, 2020 h r a o r o r Subsequently to June 30, 2020 Navios Acquisition repurchased $ 9,000 5,338 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of presentation: | (a) Basis of presentation: The accompanying interim condensed c t b o a i d t t t e a i n a e sa a o h l e i i a t m c a e a e r u t n a c o r |
Recent accounting pronouncements | (ab) Recent accounting pronouncements In March 2020, the FASB i s 0 f d a r a d i l u e a S h r a e t m 2 December 31, 2022. The company is currently evaluating the impact of ASU 2020-04 on our c In August 2018, FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Val u r e t i e i h a t e a e t c ci a s t at e e n t s In October 2018, FASB issued ASU 2018-17, C e a e a e e r t e s t s T consistent with how in d i e o e r i a a e i ” l n e n e a a e c ea e 2 0 a t l t c a a e t s In January 2017, the FASB issued ASU No. 2017-04, Intangib l T h Impairment. The ASU is effective for periods beginning after Dec e r a one-step quantitative impairment test, whereby a goodwill impairment loss will be measured as the excess of a reporti n d e n i u t e i e ’ In June 2016, FASB issued ASU 2016-13, “ F i a t t . t i e t m e a s a e e c lo h e d a t b l a v - h f a i F c h m f b e h t m a ec |
Principles of consolidation: | (b) Principles of consolidation: The accompanying consolidated finan c i d a i i a e a t e The Company also consolidates entities that are determined to be variable interest e n e e e a t i a e c a t e e e t e a a i e t t a t i s t t i i i a t e e t a l e e i t e u i o t e e l s e t i i c e i t l a t a c t t e i Based on internal for e n a d r a a m e a a l f t |
Equity method investments | (c) Equity method investments Aff i a t i e c m e a b e r n o a i r e a s l t e a u c e l e a h W a e i i a a n p e s o l i a e Navios Acquisition evaluates its equity method investmen t o r r r a o i a a i a t e i t e t i l i i e |
Subsidiaries | (d) Subsidiaries Subs i i a i e i c h o i se o e i f e a l i n i c e s s e t c i a i e As of June 30, 2020, the entities included in these consolidated financial statements were: Summary of Significant Accounting Policies - Subsidiaries (Table) Navios Maritime Acquisition Corporation and Subsidiaries: Nature Country of Incorporation 2020 2019 Company Name Aegean Sea Maritime Holdings Inc. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amorgos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Andros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antikithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antiparos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amindra Navigation Co. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Crete Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Folegandros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ikaria Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ios Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Kithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Mytilene Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Acquisition Corporation Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Finance (U.S.) Inc. Co-Issuer Delaware 1/1 – 6/30 1/1 – 6/30 Rhodes Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Serifos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Loyalty Limited Former Vessel-Owning Company(1) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Navigator Limited Former Vessel-Owning Company(2) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sifnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skiathos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skopelos Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Syros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thera Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Oinousses Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Psara Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipsara Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samothrace Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thasos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Limnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skyros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alonnisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Makronisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Iraklia Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Paxos Shipping Corporation Former Vessel-Owning Company(5) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipaxos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Donoussa Shipping Corporation Former Vessel-Owning Company(6) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Schinousa Shipping Corporation Former Vessel-Owning Company(7) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Europe Finance Inc Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kerkyra Shipping Corporation Vessel-Owning Company(3) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Lefkada Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Zakynthos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Leros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kimolos Shipping Corporation Former Vessel-Owning Company(13) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tilos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Delos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Agistri Shipping Corporation Operating Subsidiary Malta 1/1 – 6/30 1/1 – 6/30 Olivia Enterprises Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Cyrus Investments Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Doxa International Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tzia Shipping Corp. Vessel-Owning Company(10) Marshall Is. 6/4 – 6/30 – Navios Maritime Midstream Partners GP LLC Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Operating LLC Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners L.P. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners Finance (US) Inc. Co-borrower Delaware 1/1 – 6/30 1/1 – 6/30 Shinyo Kannika Limited Former Vessel-Owning Company Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Ocean Limited Former Vessel-Owning Company(11) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Saowalak Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Kieran Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Dream Limited Former Vessel-Owning Company(12) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sikinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alkmene Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Persephone Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Rhea Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Aphrodite Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Dione Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Bole Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Boysenberry Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Brandeis Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Buff Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cadmium Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Celadon Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cerulean Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — (1) F t (2) F i (3) Navios Midstream acquired all of the outstanding shares of capital stock of the vessel-owning subsidia r (4) E i e i (5) F uc c a l 0 (6) F i (7) F 2 (8) Currently, vessel-operating company un d a a e s e c t t (9) T (10) Bareboat chartered - e h r (11) In March 2019, the Shinyo Ocean, a 2001-built VLCC vessel of 281,395 d w a a e 1 n 2001-built VLCC 281,395 t 12,525 (12) On March 25, 2019, Navios Acquisition s o 2000-built VLCC 298,570 r p t a c 21,750 (13) On October 8, 2019, Navios Acquisition sold the Nave Electron, a 2002-built VLCC e 305,178 f t $ 25,250 (14) In December 2019, Navios Acquisition a c r o i (15) In June 2020, Navios Acquisition a c i |
Assets / Liabilities associated with Assets Held for Sale | (g) Assets / Liabilities associated with Assets Held for Sale It is the Company’s policy to dispose of vessels and other fixed assets when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies assets and disposal groups as “being held for sale” when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. |
Revenue and Expense Recognition | (f) Revenue and Expense Recognition R e e u c i On January 1, 2018, the Company adopted the provisions of ASC 6 0 6 0 ) s a t e o u h o p e o a e n a e s i m a r ( t a i i e n In February 2016, the FASB i s s i a e a e i l e s c c w i c 0 e o S T 8 h 4 i e a a p i 2 I i e j t t h The Company has elected to early adopt the requirements of ASU 2016-02 effective Janua r i t v h h r e o e c i e l e a s c o w e e i a e e h o h o l h e p o t m a t c a a n The Company’s contract revenues from time chartering and p o o p a p o r m c t e a t i c t c c m e m c l e i s r e o n - t a a a a o e m e c e In December 2018, FASB issued ASU 2018-20, Leases (Topic 8 4 ) e m a t a e l c e e c e t e a t l p a t d i t a a a t e e Revenue from time chartering Revenues from time chartering of v e a c a av e age h e c a t t e e a e m m a a i e w a e c i a a c a l 74,824 41,143 129,166 88,735 Pooling arrangements For vessels operating in pooling a r o e r n b a e r u t e h o p i w 16,682 13,430 39,358 32,596 Revenue from voyage contracts The Company’s revenues earned under voyage c s a n p u r r o e e t e f 0 3,639 9,713 9,678 n 0 103 o P n u h o 1,910 12,219 ) s Revenue from profit sharing Profit-sharing reve n r la e a a c t a t e t c t e e e i m l a e u 20,718 373 31,844 4,695 Revenues are recorded net of address commis s c e p r f b e v f a e e s c i t e Options to extend or termi n The Company’s vessels have the following options to extent or renew their charters: Summary of Significant Accounting Policies - Options to extend or terminate a lease (Table) Vessel Option Hector N Charterer’s option to extend the charter for one year at $ 15,800 Nave Sextans Charterer’s option to extend the charter for one year at $ 18,750 Nave Pulsar Charterer’s option to extend the charter for one year at $ 16,590 Nave Rigel Charterer has the option to charter the vessel for an optional year at a rate of $ 17,063 Nave Cetus Charterer’s option to extend the charter for six months at $ 16,788 Nave Equinox Charterer’s option to extend the charter for six months at $ 16,788 Nave Aquila Charterer's option to extend the charter for one year at $ 16,886 Nave Titan Charterer's option to extend the charter for 30-90 days at $ 12,838 15,306 TBN 1 Charterer’s option to extend the bareboat charter for five years at $ 29,751 TBN 2 Charterer’s option to extend the bareboat charter for five years at $ 29,751 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies - Subsidiaries (Table) | As of June 30, 2020, the entities included in these consolidated financial statements were: Summary of Significant Accounting Policies - Subsidiaries (Table) Navios Maritime Acquisition Corporation and Subsidiaries: Nature Country of Incorporation 2020 2019 Company Name Aegean Sea Maritime Holdings Inc. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amorgos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Andros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antikithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antiparos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Amindra Navigation Co. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Crete Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Folegandros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ikaria Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Ios Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Kithira Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Mytilene Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Acquisition Corporation Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Finance (U.S.) Inc. Co-Issuer Delaware 1/1 – 6/30 1/1 – 6/30 Rhodes Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Serifos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Loyalty Limited Former Vessel-Owning Company(1) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Navigator Limited Former Vessel-Owning Company(2) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sifnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skiathos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skopelos Shipping Corporation Vessel-Owning Company(8) Cayman Is. 1/1 – 6/30 1/1 – 6/30 Syros Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thera Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Oinousses Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Psara Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipsara Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samothrace Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Thasos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Limnos Shipping Corporation Vessel-Owning Company(8) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Skyros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alonnisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Makronisos Shipping Corporation Former Vessel-Owning Company(4) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Iraklia Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Paxos Shipping Corporation Former Vessel-Owning Company(5) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Antipaxos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Donoussa Shipping Corporation Former Vessel-Owning Company(6) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Schinousa Shipping Corporation Former Vessel-Owning Company(7) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Acquisition Europe Finance Inc Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kerkyra Shipping Corporation Vessel-Owning Company(3) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Lefkada Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Zakynthos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Leros Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Kimolos Shipping Corporation Former Vessel-Owning Company(13) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Samos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tilos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Delos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Agistri Shipping Corporation Operating Subsidiary Malta 1/1 – 6/30 1/1 – 6/30 Olivia Enterprises Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Cyrus Investments Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Doxa International Corp. Vessel-Owning Company(10) Marshall Is. 1/1 – 6/30 1/1 – 6/30 Tzia Shipping Corp. Vessel-Owning Company(10) Marshall Is. 6/4 – 6/30 – Navios Maritime Midstream Partners GP LLC Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Operating LLC Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners L.P. Sub-Holding Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Navios Maritime Midstream Partners Finance (US) Inc. Co-borrower Delaware 1/1 – 6/30 1/1 – 6/30 Shinyo Kannika Limited Former Vessel-Owning Company Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Ocean Limited Former Vessel-Owning Company(11) Hong Kong 1/1 – 6/30 1/1 – 6/30 Shinyo Saowalak Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Kieran Limited Vessel-Owning Company British Virgin Is. 1/1 – 6/30 1/1 – 6/30 Shinyo Dream Limited Former Vessel-Owning Company(12) Hong Kong 1/1 – 6/30 1/1 – 6/30 Sikinos Shipping Corporation Vessel-Owning Company Marshall Is. 1/1 – 6/30 1/1 – 6/30 Alkmene Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Persephone Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Rhea Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Aphrodite Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Dione Shipping Corporation Vessel-Owning Company(14) Marshall Is. 1/1 – 6/30 — Bole Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Boysenberry Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Brandeis Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Buff Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cadmium Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Celadon Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — Cerulean Shipping Corporation Vessel-Owning Company(15) Marshall Is. 6/29 – 6/30 — (1) F t (2) F i (3) Navios Midstream acquired all of the outstanding shares of capital stock of the vessel-owning subsidia r (4) E i e i (5) F uc c a l 0 (6) F i (7) F 2 (8) Currently, vessel-operating company un d a a e s e c t t (9) T (10) Bareboat chartered - e h r (11) In March 2019, the Shinyo Ocean, a 2001-built VLCC vessel of 281,395 d w a a e 1 n 2001-built VLCC 281,395 t 12,525 (12) On March 25, 2019, Navios Acquisition s o 2000-built VLCC 298,570 r p t a c 21,750 (13) On October 8, 2019, Navios Acquisition sold the Nave Electron, a 2002-built VLCC e 305,178 f t $ 25,250 (14) In December 2019, Navios Acquisition a c r o i (15) In June 2020, Navios Acquisition a c i |
Summary of Significant Accounting Policies - Options to extend or terminate a lease (Table) | The Company’s vessels have the following options to extent or renew their charters: Summary of Significant Accounting Policies - Options to extend or terminate a lease (Table) Vessel Option Hector N Charterer’s option to extend the charter for one year at $ 15,800 Nave Sextans Charterer’s option to extend the charter for one year at $ 18,750 Nave Pulsar Charterer’s option to extend the charter for one year at $ 16,590 Nave Rigel Charterer has the option to charter the vessel for an optional year at a rate of $ 17,063 Nave Cetus Charterer’s option to extend the charter for six months at $ 16,788 Nave Equinox Charterer’s option to extend the charter for six months at $ 16,788 Nave Aquila Charterer's option to extend the charter for one year at $ 16,886 Nave Titan Charterer's option to extend the charter for 30-90 days at $ 12,838 15,306 TBN 1 Charterer’s option to extend the bareboat charter for five years at $ 29,751 TBN 2 Charterer’s option to extend the bareboat charter for five years at $ 29,751 |
Cash and Cash Equivalents And_2
Cash and Cash Equivalents And Restricted Cash (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents and Restricted Cash - Schedule (Table) | Cash and cash equivalents c Cash and Cash Equivalents and Restricted Cash - Schedule (Table) June 30, 2020 December 31, 2019 Cash on hand and at banks $ 67,718 $ 43,561 Restricted cash 764 490 Total cash, cash equivalents and restricted cash $ 68,482 $ 44,051 |
Inventories, Prepaid Expenses_2
Inventories, Prepaid Expenses And Other Current Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Inventories, Prepaid Expenses and Other Current Assets (Table) | Inventories, prepaid expenses and other current assets consisted of the following: Inventories, Prepaid Expenses and Other Current Assets (Table) June 30, 2020 December 31, 2019 Inventories $ 5,440 $ 6,208 Advances for working capital purposes 5,350 7,250 Insurance claims 3,384 4,785 Voyage charters deferred contract costs and other 969 791 Total inventories, prepaid expenses and other current assets $ 15,143 $ 19,034 |
Vessels, Net (Tables)
Vessels, Net (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Vessels, Net (Table) | Vessels, Net Vessels, Net (Table) Vessels Cost Accumulated Depreciation Net Book Value Balance at December 31, 2018 $ 1,687,274 $ (303,669) $ 1,383,605 Additions/ (Depreciation) 102,637 (63,935) 38,702 Disposals (77,922) 11,153 (66,769) Impairment loss (7,287) — (7,287) Balance at December 31, 2019 $ 1,704,702 (356,451) 1,348,251 Additions/ (Depreciation) 3,654 (33,249) (29,595) Balance at June 30, 2020 $ 1,708,356 $ (389,700) 1,318,656 |
Intangible Assets Other Than _2
Intangible Assets Other Than Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Other Than Goodwill - Amortization (Expense) / Income (Table) | Amortization expense of favorable lease terms for the three and six month periods ended June 30, 2020 and 2019 is presented in the following table: Intangible Assets Other Than Goodwill - Amortization (Expense) / Income (Table) Three Month Period Ended Six Month Period Ended June 30, June 30, June 30, June 30, Favorable lease terms charter-out $ — $ (1,319 ) $ — $ (2,639 ) Total $ — $ (1,319 ) $ — $ (2,639 ) |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Accrued Expenses | |
Accrued Expenses - Schedule (Table) | Accrued expenses as of June 30, 2020 and December 31, 2019 consisted of the following: Accrued Expenses - Schedule (Table) June 30, 2020 December 31, 2019 Accrued voyage expenses $ 2,052 $ 2,643 Accrued loan interest 8,286 10,468 Accrued legal and professional fees 3,740 1,226 Total accrued expenses $ 14,078 $ 14,337 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Borrowings - Schedule (Table) | Schedule of Borrowings Borrowings - Schedule (Table) June 30, 2020 December 31, 2019 Eurobank Ergasias S.A. $52,000 — 28,758 DVB Bank S.E. and Credit Agricole Corporate and Investment Bank 37,891 39,453 Ship Mortgage Notes $670,000 658,000 658,000 Deutsche Bank AG Filiale Deutschlandgeschäft and Skandinaviska Enskilda Banken AB 19,065 39,173 BNP Paribas $44,000 26,000 28,000 HSH $24,000 17,135 18,280 HCOB $31,800 30,108 31,800 Deutsche Bank AG Filiale Deutschlandgeschäft — 32,500 Eurobank S.A. $20,800 20,800 — Total credit facilities 808,999 875,964 Sale and Leaseback Agreements–$71,500 58,094 62,563 Sale and Leaseback Agreements–$103,155 93,189 97,723 Sale and Leaseback Agreements–$15,000 13,281 14,219 Sale and Leaseback Agreements–$47,220 43,133 45,858 Sale and Leaseback Agreements–$90,811 85,158 90,811 Sale and Leaseback Agreements–$72,053 72,053 — Total borrowings 1,173,907 1,187,138 Less: Deferred finance costs, net (13,318) (14,638) Add: bond premium 445 617 Less: current portion of credit facilities, net of deferred finance costs (61,261) (141,214) Less: current portion of Sale and Leaseback Agreements, net of deferred finance costs (38,695) (31,739) Total long-term borrowings, net of current portion, bond premium and deferred finance costs $ 1,061,078 $ 1,000,164 |
Borrowings - Long-Term Debt Obligations (Table) | Long-Term Debt Obligations Borrowings - Long-Term Debt Obligations (Table) June 30, Long-Term Debt Obligations: 12 month period ending June 30, 2021 102,608 June 30, 2022 757,620 June 30, 2023 67,364 June 30, 2024 92,908 June 30, 2025 32,144 June 30, 2026 and thereafter 121,263 Total $ 1,173,907 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value of Financial Instruments - Schedule (Table) | Fair value of Financial Instruments Fair value of Financial Instruments - Schedule (Table) . June 30, 2020 December 31, 2019 Book Value Fair Value Book Value Fair Value Cash and cash equivalents $ 67,718 $ 67,718 $ 43,561 $ 43,561 Restricted cash $ 764 $ 764 $ 490 $ 490 Accounts receivable $ 29,563 $ 29,563 $ 34,235 $ 34,235 Accounts payable $ 9,776 $ 9,776 $ 15,355 $ 15,355 Ship mortgage notes and premium $ 654,694 $ 382,186 $ 653,614 $ 527,005 Other long-term debt, net of deferred finance costs $ 506,340 $ 515,907 $ 519,503 $ 529,138 Due from related parties, long-term $ 14,658 $ 14,658 $ 42,878 $ 42,878 |
Fair Value of Financial Instruments - Non-Recurring Measurements (Table) | Fair Value of Financial Instruments measured on a Non-Recurring Basis Fair Value of Financial Instruments - Non-Recurring Measurements (Table) Fair Value Measurements at June 30, 2020 Using Total Level I Level II Level III Cash and cash equivalents $ 67,718 $ 67,718 $ — $ — Restricted cash $ 764 $ 764 $ — $ — Accounts receivable $ 29,563 $ 29,563 $ — $ — Accounts payable $ 9,776 $ 9,776 $ — $ — Ship mortgage notes and premium $ 382,186 $ 382,186 $ — $ — Other long-term debt (1) $ 515,907 $ — $ 515,907 $ — Due from related parties, long-term (2) $ 14,658 $ — $ 14,658 $ — Fair Value Measurements at December 31, 2019 Using Total Level I Level II Level III Cash and cash equivalents $ 43,561 $ 43,561 $ — $ — Restricted cash $ 490 $ 490 $ — $ — Accounts receivable $ 34,235 $ 34,235 $ — $ — Accounts payable $ 15,355 $ 15,355 $ — $ — Ship mortgage notes and premium $ 527,005 $ 527,005 $ — $ — Other long-term debt (1) $ 529,138 $ — $ 529,138 $ — Due from related parties, long-term (2) $ 42,878 $ — $ 42,878 $ — (1) T l d e e (2) T o e |
Commitments and Contigencies (T
Commitments and Contigencies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contigencies - Minimum Future Commitments (Table) | The future minimum commitments as of June 30, 2020 of Navios Acqui s a Commitments and Contigencies - Minimum Future Commitments (Table) Amount Lease Obligations (Time Charters) for vessels to be delivered: 12 month period ending June 30, 2021 10,397 June 30, 2022 25,740 June 30, 2023 33,434 June 30, 2024 33,526 June 30, 2025 33,434 June 30, 2026 and thereafter 264,952 Total $ 401,483 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Segment Reporting [Abstract] | |
Segment Information - Revenue by Geographic Region (Table) | Revenue by Geographic Region Segment Information - Revenue by Geographic Region (Table) Three Month Three Month Six Month Six Month Asia $ 87,753 $ 43,466 $ 161,265 $ 101,784 Europe 16,659 4,232 33,558 9,148 United States 7,812 10,887 15,258 24,712 Total $ 112,224 $ 58,585 $ 210,081 $ 135,704 |
Earnings_ (Loss) per Common S_2
Earnings/ (Loss) per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings/ (loss) per Common Share - Calculation per Share (Table) | Earnings/ (loss) per Common Share Earnings/ (loss) per Common Share - Calculation per Share (Table) For the Three For the Three For the Six For the Six Numerator: Net income/ (loss) $ 31,017 $ (16,550) $ 31,886 $ (15,689) Less: Dividend declared on restricted shares (47) (65) (94) (131) Undistributed loss attributable to Series C participating preferred shares — — — (13) Net income/ (loss) attributable to common stockholders, basic $ 30,970 $ (16,615) $ 31,792 $ (15,833) Plus: Undistributed income attributable to Series C participating preferred shares — — — 13 Net income/ (loss) attributable to common stockholders, diluted $ 30,970 $ (16,615) $ 31,792 $ (15,820) Denominator: Denominator for basic net income/ (loss) per share — weighted average shares 15,888,354 13,510,361 15,803,166 13,414,547 Series C participating preferred shares — — — — Denominator for diluted net income/ (loss) per share — adjusted weighted average shares 16,043,704 13,510,361 15,958,897 13,414,547 Net income/ (loss) per share, basic $ 1.95 $ (1.23) $ 2.01 $ (1.18) Net income/ (loss) per share, diluted $ 1.93 $ (1.23) $ 1.99 $ (1.18) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Subsidiaries (Table) (Details) | 6 Months Ended |
Jun. 30, 2020 | |
Aegean Sea Maritime Holdings Inc. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Sub-Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Amorgos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Andros Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Anthikithira Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Antiparos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Amindra Shipping Co. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Sub-Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Crete Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Folegandros Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Ikaria Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Ios Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Cayman Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Kithira Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Kos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Mytilene Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Maritime Acquisition Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Acquisition Finance (U.S.) Inc. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Co-Issuer |
Country of Incorporation | Delaware |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Rhodes Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Serifos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Loyalty Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(1) |
Country of Incorporation | Hong Kong |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Navigator Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(2) |
Country of Incorporation | Hong Kong |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Sifnos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Skiathos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Skopelos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Cayman Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Syros Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Thera Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Tinos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Oinousses Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Psara Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Anitpsara Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Samothrace Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Thasos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Limnos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(8) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Skyros Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Alonnisos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(4) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Makronisos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(4) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Iraklia Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Paxos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(5) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Antipaxos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Donoussa Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(6) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Schinousa Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(7) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Acquisition Europe Finance Inc | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Sub-Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Kerkyra Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(3) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Lefkada Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Zakynthos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Leros Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Kimolos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(13) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Samos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Tilos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Delos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Agistri Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Operating Subsidiary |
Country of Incorporation | Malta |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Olivia Enterprises Corp. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(10) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Cyrus Investments Corp. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(10) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Doxa International Corp. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(10) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Tzia Shipping Corp. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(10) |
Country of Incorporation | Marshall Is. |
2020 | 6/4 – 6/30 |
2019 | – |
Navios Maritime Midstream Partners GP LLC | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Maritime Midstream Operating LLC | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Sub-Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Maritime Midstream Partners L.P. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Sub-Holding Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Navios Maritime Midstream Partners Finance (US) Inc. | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Co-borrower |
Country of Incorporation | Delaware |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Kannika Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company |
Country of Incorporation | Hong Kong |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Ocean Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(11) |
Country of Incorporation | Hong Kong |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Saowalak Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | British Virgin Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Kieran Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | British Virgin Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Shinyo Dream Limited | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Former Vessel-Owning Company(12) |
Country of Incorporation | Hong Kong |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Sikinos Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | 1/1 – 6/30 |
Alkmene Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(14) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | — |
Persephone Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(14) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | — |
Rhea Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(14) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | — |
Aphrodite Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(14) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | — |
Dione Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(14) |
Country of Incorporation | Marshall Is. |
2020 | 1/1 – 6/30 |
2019 | — |
Bole Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Boysenberry Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Brandeis Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Buff Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Cadmium Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Celadon Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Cerulean Shipping Corporation | |
Entity Listings [Line Items] | |
Subsidiary or Equity Method Investee, Nature of Operations | Vessel-Owning Company(15) |
Country of Incorporation | Marshall Is. |
2020 | 6/29 – 6/30 |
2019 | — |
Description of Organization a_2
Description of Organization and Business Operations (Details Narrative) $ / shares in Units, $ in Thousands | 6 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | |
Jun. 30, 2020USD ($)shares | Oct. 31, 2019USD ($)$ / sharesshares | Nov. 29, 2019USD ($) | Dec. 31, 2019shares | Dec. 18, 2013 | |
Property, Plant and Equipment [Line Items] | |||||
Entity date of incorporation | Mar. 14, 2008 | ||||
Entity date of Initial Public Offering | Jul. 1, 2008 | ||||
Common stock shares outstanding | shares | 16,089,890 | 15,873,391 | |||
Navios Holdings | |||||
Property, Plant and Equipment [Line Items] | |||||
Navios Holdings' voting interest in Navios Acquisition | 30.20% | ||||
Noncontrolling Interest, Ownership Percentage by Parent | 30.50% | ||||
Common Stock [Member] | Registered Direct Offering | |||||
Property, Plant and Equipment [Line Items] | |||||
Issuance of common shares | shares | 1,875,000 | ||||
Sale of Stock, Price Per Share | $ / shares | $ 8 | ||||
Gross proceeds | $ 15,000 | ||||
Agents' costs | 675 | ||||
Offering costs | 957 | ||||
Net proceeds | $ 13,368 | ||||
Common Stock [Member] | Continuous Offering Program Sales Agreement | |||||
Property, Plant and Equipment [Line Items] | |||||
Issuance of common shares | shares | 486,519 | ||||
Net proceeds | $ 3,047 | ||||
Common Stock [Member] | Continuous Offering Program Sales Agreement | Maximum [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Sale of Stock, Consideration Received | $ 25,000 | ||||
Navios Europe I | |||||
Property, Plant and Equipment [Line Items] | |||||
Number of vessels acquired | 10 | ||||
Navios Holdings' voting interest in Navios Acquisition | 50.00% | ||||
Two LR1 and Three MR1 Product Tankers | Navios Europe I | |||||
Property, Plant and Equipment [Line Items] | |||||
Number of vessels acquired | 5 | 5 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Options to extend or terminate a lease (Table) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Hector N | Extention for one year | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | $ 15,800 |
Nave Sextans | Extention for one year | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 18,750 |
Nave Pulsar | Extention for one year | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 16,590 |
Nave Rigel | Charter for one year | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 17,063 |
Nave Cetus | Extention for six months | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 16,788 |
Nave Equinox | Extention for six months | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 16,788 |
Nave Aquila | Extention for one year | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 16,886 |
Nave Titan | Extention for 30 to 90 days | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 12,838 |
Nave Titan | Extention for last 30 days | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 15,306 |
TBN 1 | Extention for five years | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | 29,751 |
TBN 2 | Extention for five years | |
Property, Plant and Equipment [Line Items] | |
Charter hire daily rate | $ 29,751 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details Narrative) $ in Thousands | 3 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | ||||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 25, 2019USD ($) | May 10, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Oct. 08, 2019USD ($) | Dec. 31, 2019USD ($) | |
Property, Plant and Equipment [Line Items] | ||||||||
Revenues | $ 112,224 | $ 58,585 | $ 210,081 | $ 135,704 | ||||
Accounts Receivable, after Allowance for Credit Loss, Current | 29,563 | 29,563 | $ 34,235 | |||||
Time charter | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Revenues | 74,824 | 41,143 | 129,166 | 88,735 | ||||
Pooling arrangements | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Revenues | 16,682 | 13,430 | 39,358 | 32,596 | ||||
Voyage contracts | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Revenues | 0 | 3,639 | 9,713 | 9,678 | ||||
Capitalized Contract Cost, Gross | 0 | 0 | 103 | |||||
Accounts Receivable, after Allowance for Credit Loss, Current | 1,910 | 1,910 | $ 12,219 | |||||
Profit sharing | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Revenues | $ 20,718 | $ 373 | $ 31,844 | $ 4,695 | ||||
Shinyo Ocean | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Vessel type | 2001-built VLCC | |||||||
Vessel capacity in DWT | 281,395 | |||||||
Sale price | $ 12,525 | |||||||
C. Dream | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Vessel type | 2000-built VLCC | |||||||
Vessel capacity in DWT | 298,570 | |||||||
Sale price | $ 21,750 | |||||||
Nave Electron | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Vessel type | 2002-built VLCC | |||||||
Vessel capacity in DWT | 305,178 | |||||||
Sale price | $ 25,250 |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Restricted Cash - Schedule (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents [Abstract] | ||||
Cash on hand and at banks | $ 67,718 | $ 43,561 | ||
Restricted cash | 764 | 490 | ||
Total cash, cash equivalents and restricted cash | $ 68,482 | $ 44,051 | $ 41,962 | $ 46,609 |
Inventories, Prepaid Expenses_3
Inventories, Prepaid Expenses and Other Current Assets (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Inventories | $ 5,440 | $ 6,208 |
Advances for working capital purposes | 5,350 | 7,250 |
Insurance claims | 3,384 | 4,785 |
Voyage charters deferred contract costs and other | 969 | 791 |
Total inventories, prepaid expenses and other current assets | $ 15,143 | $ 19,034 |
Vessels, Net (Table) (Details)
Vessels, Net (Table) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Balance | $ 1,318,656 | $ 1,348,251 | |
Cost | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 1,708,356 | 1,704,702 | $ 1,687,274 |
Additions/ (Depreciation) | 3,654 | 102,637 | |
Disposals | (77,922) | ||
Impairment loss | (7,287) | ||
Accumulated Depreciation | |||
Property, Plant and Equipment [Line Items] | |||
Balance | (389,700) | (356,451) | (303,669) |
Additions/ (Depreciation) | (33,249) | (63,935) | |
Disposals | 11,153 | ||
Net Book Value | |||
Property, Plant and Equipment [Line Items] | |||
Balance | 1,318,656 | 1,348,251 | $ 1,383,605 |
Additions/ (Depreciation) | 38,702 | ||
Additions/ (Depreciation) | $ (29,595) | ||
Disposals | (66,769) | ||
Impairment loss | $ (7,287) |
Vessels, Net (Details Narrative
Vessels, Net (Details Narrative) $ in Thousands | 3 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 25, 2019USD ($) | May 10, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Oct. 08, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 18, 2013 | |
Property, Plant and Equipment [Line Items] | |||||||
Payments to acquire vessels | $ 44,623 | $ 5,563 | |||||
Navios Europe I | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Number of vessels acquired | 10 | ||||||
Two LR1 and Three MR1 Product Tankers | Navios Europe I | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Number of vessels acquired | 5 | 5 | |||||
Payments to Acquire Businesses, Gross | $ 84,430 | ||||||
Amount of loan used to finance purchase of vessel | 32,500 | ||||||
Accounts Receivable, Sale | 33,210 | ||||||
C. Dream | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Vessel type | 2000-built VLCC | ||||||
Vessel capacity in DWT | 298,570 | ||||||
Sale price | $ 21,750 | ||||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ 651 | ||||||
Shinyo Ocean | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Vessel type | 2001-built VLCC | ||||||
Vessel capacity in DWT | 281,395 | ||||||
Sale price | $ 12,525 | ||||||
Nave Electron | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Vessel type | 2002-built VLCC | ||||||
Vessel capacity in DWT | 305,178 | ||||||
Sale price | $ 25,250 | ||||||
Other Regulatory Assets (Liabilities) [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Payments to acquire vessels | $ 3,654 | $ 5,563 | $ 18,207 |
Intangible Assets Other Than _3
Intangible Assets Other Than Goodwill - Amortization (Expense) / Income (Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Favorable lease terms charter-out | $ 0 | $ (1,319) | $ 0 | $ (2,639) |
Total | $ 0 | $ (1,319) | $ 0 | $ (2,639) |
Intangible Assets Other Than _4
Intangible Assets Other Than Goodwill (Details Narrative) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 10 Months Ended | |||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Sep. 30, 2019USD ($) | Oct. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |||||||
Intangible Assets, Gross (Excluding Goodwill) | $ 0 | $ 0 | $ 0 | ||||
Revenues | $ 112,224,000 | $ 58,585,000 | $ 210,081,000 | $ 135,704,000 | |||
Nave Constellation | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Charter hire daily rate | $ 48,153 | ||||||
Nave Constellation | Minimum [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Revenues | $ 54,388,000 | ||||||
Nave Universe | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Charter hire daily rate | $ 48,153 | ||||||
Nave Universe | Minimum [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Revenues | $ 54,388,000 | ||||||
Nave Constellation and Nave Universe | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Number of vessels | 2 |
Assets_ Liabilities Associate_2
Assets/ Liabilities Associated with Assets Held for Sale (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | ||
Long-term Debt, Gross | $ 1,173,907 | $ 1,187,138 |
Hamburg Commercial Bank AG | ||
Property, Plant and Equipment [Line Items] | ||
Long-term Debt, Gross | 41,700 | |
Navios Europe II | Containers | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Additions | $ 79,080 |
Investment in Affiliates (Detai
Investment in Affiliates (Details Narrative) $ in Thousands | 2 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | 7 Months Ended | 12 Months Ended | ||||||
Feb. 18, 2015 | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2017USD ($) | Apr. 21, 2020USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 18, 2013USD ($) | Oct. 09, 2013 | |
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Income (Loss) from Equity Method Investments | $ 0 | $ 889 | $ (13,900) | $ 1,734 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 44,623 | 5,563 | ||||||||||
Proceeds from Lines of Credit | 133,054 | 98,201 | ||||||||||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | $ 6,650 | |||||||||
Due from Related Parties, Noncurrent | 14,658 | 14,658 | 42,878 | |||||||||
Due from Related Parties, Current | $ 2,039 | 2,039 | $ 16,688 | |||||||||
Equity Method Investment, Other than Temporary Impairment | 13,900 | 0 | ||||||||||
Navios Europe I | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 47.50% | |||||||||||
Number of vessels acquired | 10 | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 50.00% | |||||||||||
Income (Loss) from Equity Method Investments | 297 | $ 583 | ||||||||||
Navios Europe I | Two LR1 and Three MR1 Product Tankers | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Number of vessels acquired | 5 | 5 | 5 | |||||||||
Cost of acquired vessels | $ 84,627 | |||||||||||
Navios Europe I | Navios Holdings | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 47.50% | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 50.00% | |||||||||||
Navios Europe I | Navios Maritime Partners L.P. | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 5.00% | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 0.00% | |||||||||||
Navios Europe I | Navios Holdings, Navios Acquisition and Navios Partners | Navios Revolving Loans I | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Loan portion | $ 24,100 | |||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 30,000 | |||||||||||
Navios Europe I | Navios Holdings, Navios Acquisition and Navios Partners | Navios Term Loans I | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Loan portion | $ 10,000 | |||||||||||
Navios Europe II | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 47.50% | |||||||||||
Number of vessels acquired | 14 | |||||||||||
Loan portion | $ 20,662 | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 50.00% | |||||||||||
Income (Loss) from Equity Method Investments | $ 0 | $ 592 | ||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 145,550 | |||||||||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 51,558 | |||||||||||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 6,650 | |||||||||||
Due from Related Parties, Noncurrent | 28,220 | |||||||||||
Due from Related Parties, Current | $ 16,688 | |||||||||||
[custom:IncomeLossFromEquityMethodInvestmentsEquityMethodInvestmentOtherThanTemporaryImpairment] | 13,900 | |||||||||||
Equity Method Investment, Other than Temporary Impairment | 13,900 | $ 1,151 | ||||||||||
Navios Europe II | Senior Loan II | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Proceeds from Lines of Credit | 131,550 | |||||||||||
Navios Europe II | Junior Loan II | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Debt Instrument, Face Amount | 182,150 | |||||||||||
Long-term Debt, Fair Value | 99,147 | |||||||||||
Debt Instrument, Decrease, Forgiveness | $ 5,000 | |||||||||||
Navios Europe II | Navios Holdings | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 47.50% | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 50.00% | |||||||||||
Navios Europe II | Navios Maritime Partners L.P. | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Ownership percentage | 5.00% | |||||||||||
Navios Holdings' voting interest in Navios Acquisition | 0.00% | |||||||||||
Navios Europe II | Navios Holdings, Navios Acquisition and Navios Partners | Navios Revolving Loans II | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 14,000 | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 57,500 | $ 57,500 | 43,500 | |||||||||
Navios Europe II | Navios Holdings, Navios Acquisition and Navios Partners | Navios Term Loans II | ||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||
Loan portion | $ 14,000 |
Dividends Payable (Details Narr
Dividends Payable (Details Narrative) | 6 Months Ended |
Jun. 30, 2020$ / shares | |
Installment 1 - FY 2020 | |
Dividends Payable [Line Items] | |
Dividends Payable, Date Declared | Jan. 22, 2020 |
Dividends Payable, Amount Per Share | $ 0.30 |
Dividends Payable, Date to be Paid | Apr. 7, 2020 |
Dividends Payable, Date of Record | Mar. 5, 2020 |
Installment 2 - FY 2020 | |
Dividends Payable [Line Items] | |
Dividends Payable, Date Declared | Apr. 29, 2020 |
Dividends Payable, Amount Per Share | $ 0.30 |
Dividends Payable, Date to be Paid | Jul. 9, 2020 |
Dividends Payable, Date of Record | Jun. 3, 2020 |
Accrued Expenses - Schedule (Ta
Accrued Expenses - Schedule (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Accrued Expenses | ||
Accrued voyage expenses | $ 2,052 | $ 2,643 |
Accrued loan interest | 8,286 | 10,468 |
Accrued legal and professional fees | 3,740 | 1,226 |
Total accrued expenses | $ 14,078 | $ 14,337 |
Borrowings - Schedule (Table) (
Borrowings - Schedule (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | $ 1,173,907 | $ 1,187,138 |
Less: Deferred finance costs, net | (13,318) | (14,638) |
Add: bond premium | 445 | 617 |
Less: current portion of credit facilities, net of deferred finance costs | (61,261) | (141,214) |
Less: current portion of Sale and Leaseback Agreements, net of deferred finance costs | (38,695) | (31,739) |
Total long-term borrowings, net of current portion, bond premium and deferred finance costs | 1,061,078 | 1,000,164 |
Sale and Leaseback Agreements $71,500 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 58,094 | 62,563 |
Sale and Leaseback Agreements $103,155 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 93,189 | 97,723 |
Sale and Leaseback Agreements $15,000 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 13,281 | 14,219 |
Sale and Leaseback Agreements $47,220 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 43,133 | 45,858 |
Sale and Leaseback Agreements $90,811 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 85,158 | 90,811 |
Sale and Leaseback Agreements $72,053 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 72,053 | 0 |
Ship Mortgage Notes $670,000 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 658,000 | 658,000 |
Line of Credit [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 808,999 | 875,964 |
Eurobank Ergasias S.A. $52,000 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 0 | 28,758 |
DVB Bank S.E. and Credit Agricole Corporate and Investment Bank | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 37,891 | 39,453 |
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 19,065 | 39,173 |
BNP Paribas $44,000 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 26,000 | 28,000 |
HSH $24,000 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 17,135 | 18,280 |
HCOB $31,800 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 30,108 | 31,800 |
Deutsche Bank AG Filiale Deutschlandgeschaft | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | 0 | 32,500 |
Eurobank Ergasias S.A. $20,800 | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt, Gross | $ 20,800 | $ 0 |
Borrowings - Long-Term Debt Obl
Borrowings - Long-Term Debt Obligations (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Long-Term Debt Obligations: | ||
June 30, 2021 | $ 102,608 | |
June 30, 2022 | 757,620 | |
June 30, 2023 | 67,364 | |
June 30, 2024 | 92,908 | |
June 30, 2025 | 32,144 | |
June 30, 2026 and thereafter | 121,263 | |
Total | $ 1,173,907 | $ 1,187,138 |
Borrowings (Details Narrative)
Borrowings (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 11 Months Ended | 12 Months Ended | |
Mar. 23, 2018 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 06, 2010 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | |||||
Secured Debt | $ 150,999 | ||||
Proceeds from Lines of Credit | 133,054 | $ 98,201 | |||
Long-term Debt, Gross | 1,173,907 | $ 1,187,138 | |||
Sale Leaseback Transaction, Net Book Value | 364,908 | ||||
Other Assets, Noncurrent | $ 9,383 | 5,456 | |||
Sale and Leaseback Agreements $72,053 | |||||
Debt Instrument [Line Items] | |||||
Vessels financed | one MR1, one MR2 and two LR1s | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Interest rate description | LIBOR plus a margin ranging from 390 bps to 410 bps | ||||
Long-term Debt, Gross | $ 72,053 | 0 | |||
Finance Lease, Liability | 72,053 | ||||
Sale Leaseback Transaction, Quarterly Rental Payments | 1,791 | ||||
Deposits [Member] | |||||
Debt Instrument [Line Items] | |||||
Other Assets, Noncurrent | 9,058 | 5,456 | |||
Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Minimum liquidity required for compliance | 40,000 | ||||
Minimum net worth required for compliance | $ 50,000 | ||||
Total Liabilities to Total Assets ratio | 75.00% | ||||
Minimum [Member] | Sale and Leaseback Agreements $72,053 | |||||
Debt Instrument [Line Items] | |||||
Repayment period | four | ||||
Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Minimum net worth required for compliance | $ 135,000 | ||||
Total Liabilities to Total Assets ratio | 80.00% | ||||
Maximum [Member] | Sale and Leaseback Agreements $72,053 | |||||
Debt Instrument [Line Items] | |||||
Repayment period | seven | ||||
Finance Lease Liability Periodic Payment Terms, Balloon Payment to be Paid | $ 26,963 | ||||
Eurobank Ergasias S.A. $52,000 | |||||
Debt Instrument [Line Items] | |||||
Early repayment of debt | 27,534 | ||||
Write-off debt | $ 50 | ||||
Line of Credit Facility, Initiation Date | Dec. 6, 2010 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 52,000 | ||||
Proceeds from Lines of Credit | $ 46,200 | ||||
Number of loan tranches | 2 | ||||
Amount of each tranche | $ 23,100 | ||||
Vessels financed | two LR1 product tanker | ||||
Repayment installments | 32 | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Line of Credit Facility, Periodic Payment | $ 306 | ||||
Balloon payment on the last repayment date | $ 13,308 | ||||
Interest rate description | LIBOR plus 300 bps | ||||
Long-term Debt, Gross | $ 0 | 28,758 | |||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 125,000 | ||||
Number of loan tranches | 5 | ||||
Interest rate description | LIBOR plus 295 bps | ||||
Long-term Debt, Gross | $ 19,065 | 39,173 | |||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Nave Equinox and Nave Pyxis | |||||
Debt Instrument [Line Items] | |||||
Early repayment of debt | $ 26,770 | ||||
Write-off debt | 297 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Nave Sextans | |||||
Debt Instrument [Line Items] | |||||
Early repayment of debt | $ 16,272 | ||||
Write-off debt | $ 26 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Four Tranches | |||||
Debt Instrument [Line Items] | |||||
Number of loan tranches | 4 | ||||
Repayment installments | 20 | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Four Tranches | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Periodic Payment | $ 435 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Four Tranches | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Periodic Payment | $ 1,896 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Fifth Tranche | |||||
Debt Instrument [Line Items] | |||||
Number of loan tranches | 5 | ||||
Repayment installments | 16 | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Fifth Tranche | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Periodic Payment | $ 709 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft and Skandinaviska Enskilda Banken AB | Fifth Tranche | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Periodic Payment | 803 | ||||
Deutsche Bank AG Filiale Deutschlandgeschaft | |||||
Debt Instrument [Line Items] | |||||
Early repayment of debt | 32,500 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 32,500 | ||||
Vessels financed | one MR1 and two LR1s | ||||
Repayment installments | 1 | ||||
Interest rate description | LIBOR plus 400 bps | ||||
Long-term Debt, Gross | $ 0 | 32,500 | |||
Eurobank Ergasias S.A. $20,800 | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,800 | ||||
Vessels financed | two LR1s | ||||
Repayment installments | 16 | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Line of Credit Facility, Periodic Payment | $ 800 | ||||
Balloon payment on the last repayment date | $ 8,000 | ||||
Interest rate description | LIBOR plus 300 bps | ||||
Long-term Debt, Gross | $ 20,800 | $ 0 | |||
Hamburg Commercial Bank AG | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 41,700 | ||||
Vessels financed | seven | ||||
Repayment installments | 4 | ||||
Line of Credit Facility, Frequency of Payments | quarterly | ||||
Balloon payment on the last repayment date | $ 21,700 | ||||
Interest rate description | LIBOR plus 375 bps | ||||
Long-term Debt, Gross | $ 41,700 | ||||
Subsidiaries [Member] | Navios Acquistion | |||||
Debt Instrument [Line Items] | |||||
Ownreship percentage | 100.00% | ||||
Liquidity per vessel | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Minimum liquidity required for compliance | $ 1,000 | ||||
Certain Facilities | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Total Liabilities to Total Assets ratio | 80.00% | ||||
Certain Facilities | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Total Liabilities to Total Assets ratio | 85.00% | ||||
Existing 2021 Notes | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Issuance Date | Nov. 13, 2013 | ||||
Debt Instrument, Face Amount | $ 610,000 | ||||
Debt Instrument, Maturity Date | Nov. 15, 2021 | ||||
Fixed rate | 8.125% | ||||
Additional 2021 Notes | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Issuance Date | Mar. 31, 2014 | ||||
Debt Instrument, Face Amount | $ 60,000 | ||||
Debt instrument, Original issue price percentage | 103.25% | ||||
Ship Mortgage Notes $670,000 | |||||
Debt Instrument [Line Items] | |||||
Redemption price percentage | 106.094% | ||||
Cash collateral | $ 25,405 | ||||
Extinguishment of Debt, Amount | $ 12,000 | ||||
Early repayment of debt | 9,950 | ||||
Write-off debt | 1,940 | ||||
Long-term Debt, Gross | $ 658,000 | $ 658,000 | |||
Ship Mortgage Notes $670,000 | Redemption upon the occurence of certain change of control events | |||||
Debt Instrument [Line Items] | |||||
Redemption price percentage | 101.00% |
Fair value of Financial Instr_3
Fair value of Financial Instruments - Schedule (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Fair Value Disclosures [Abstract] | ||
Cash and cash equivalents - Book Value | $ 67,718 | $ 43,561 |
Cash and cash equivalents - Fair Value | 67,718 | 43,561 |
Restricted cash - Book Value | 764 | 490 |
Restricted cash - Fair Value | 764 | 490 |
Accounts receivable - Book Value | 29,563 | 34,235 |
Accounts receivable - Fair Value | 29,563 | 34,235 |
Accounts payable - Book Value | 9,776 | 15,355 |
Accounts payable - Fair Value | 9,776 | 15,355 |
Ship mortgage notes and premium - Book Value | 654,694 | 653,614 |
Ship mortgage notes and premium - Fair Value | 382,186 | 527,005 |
Other long-term debt, net of deferred finance costs - Book Value | 506,340 | 519,503 |
Other long-term debt, net of deferred finance costs - Fair Value | 515,907 | 529,138 |
Due from related parties, long-term - Book Value | 14,658 | 42,878 |
Due from related parties, long-term - Fair Value | $ 14,658 | $ 42,878 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Non-Recurring Measurements (Table) (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 67,718 | $ 43,561 |
Restricted cash | 764 | 490 |
Accounts receivable | 29,563 | 34,235 |
Accounts payable | 9,776 | 15,355 |
Ship mortgage notes and premium | 382,186 | 527,005 |
Other long-term debt | 515,907 | 529,138 |
Due from related parties, long-term | 14,658 | 42,878 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 67,718 | 43,561 |
Restricted cash | 764 | 490 |
Accounts receivable | 29,563 | 34,235 |
Accounts payable | 9,776 | 15,355 |
Ship mortgage notes and premium | 382,186 | 527,005 |
Other long-term debt | 0 | 0 |
Due from related parties, long-term | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Accounts receivable | 0 | 0 |
Accounts payable | 0 | 0 |
Ship mortgage notes and premium | 0 | 0 |
Other long-term debt | 515,907 | 529,138 |
Due from related parties, long-term | $ 14,658 | $ 42,878 |
Transactions with Related Par_2
Transactions with Related Parties (Details Narrative) | 3 Months Ended | 6 Months Ended | 7 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2017USD ($) | Jun. 30, 2020USD ($) | Jun. 26, 2020USD ($) | Jun. 30, 2019USD ($) | Jul. 31, 2019USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2019USD ($) | Jun. 29, 2020 | Dec. 18, 2013 | |
Related Party Transaction [Line Items] | |||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 44,623,000 | $ 5,563,000 | |||||||||
Professional and Contract Services Expense | $ 29,836,000 | $ 26,481,000 | 59,673,000 | 54,387,000 | |||||||
General and Administrative Expense | 6,293,000 | 6,808,000 | 10,247,000 | 11,945,000 | |||||||
Due to Related Parties, Current | 0 | 0 | $ 32,150,000 | ||||||||
Assets Held-for-sale, Not Part of Disposal Group | 83,006,000 | 83,006,000 | 0 | ||||||||
Due from Related Parties, Current | 2,039,000 | 2,039,000 | 16,688,000 | ||||||||
Navios Holdings | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Due from Related Parties | 16,697,000 | 16,697,000 | 14,658,000 | ||||||||
Other Regulatory Assets (Liabilities) [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Payments to Acquire Property, Plant, and Equipment | 3,654,000 | 5,563,000 | 18,207,000 | ||||||||
Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 10 | ||||||||||
Navios Europe II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 14 | ||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 145,550,000 | ||||||||||
Due from Related Parties | 0 | 0 | 44,908,000 | ||||||||
Assets Held-for-sale, Not Part of Disposal Group | 1,845,000 | 1,845,000 | |||||||||
Loans and Leases Receivable, Related Parties | 20,662,000 | ||||||||||
Interest Receivable, Noncurrent | 7,558,000 | ||||||||||
Due from Related Parties, Current | $ 16,688,000 | ||||||||||
Navios Europe II | Navios Holdings, Navios Acquisition and Navios Partners | Navios Revolving Loans II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 57,500,000 | $ 57,500,000 | $ 43,500,000 | ||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 14,000,000 | ||||||||||
LR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 2 | ||||||||||
MR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 3 | ||||||||||
Containers | Navios Europe II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 7 | ||||||||||
Management Agreement | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Duration of agreement | two years | ||||||||||
Management Agreement | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Duration of agreement | two years | ||||||||||
Management Agreement | MR2 Product Tanker Vessel | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 6,500 | $ 6,800 | |||||||||
Management Agreement | MR2 Chemical Tanker Vessel | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | 6,500 | 6,800 | |||||||||
Management Agreement | LR1 Product Tanker Vessel | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | 7,150 | 7,230 | |||||||||
Management Agreement | LR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | 7,230 | ||||||||||
Management Agreement | VLCC | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 9,500 | 9,700 | |||||||||
Management Agreement | Per Vessel | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 50 | ||||||||||
Annual increase in daily management fee | 3.00% | ||||||||||
Management Agreement | Per Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 50 | ||||||||||
Management Agreement | Per Vessel | Navios Europe I | After January 2022 | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Annual increase in daily management fee | 3.00% | ||||||||||
Management Agreement | MR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 6,800 | ||||||||||
Management Agreement | Container Vessel of 1500 TEU up to 1999 TEU | Navios Europe II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 5,300 | ||||||||||
Management Agreement | Container Vessel of 2000 TEU up to 3450 TEU | Navios Europe II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Daily management fee to Navios Holdings | $ 6,100 | ||||||||||
Administrative services agreement with the Manager | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
General and Administrative Expense | $ 2,985,000 | $ 2,761,000 | $ 5,987,000 | $ 5,626,000 | |||||||
Administrative services agreement with the Manager | LR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 2 | ||||||||||
Administrative services agreement with the Manager | MR1 Product Tanker Vessel | Navios Europe I | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 3 | ||||||||||
Administrative services agreement with the Manager | Containers | Navios Europe II | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of vessels acquired | 7 |
Commitments and Contigencies -
Commitments and Contigencies - Minimum Future Commitments (Table) (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
June 30, 2021 | $ 10,397 |
June 30, 2022 | 25,740 |
June 30, 2023 | 33,434 |
June 30, 2024 | 33,526 |
June 30, 2025 | 33,434 |
June 30, 2026 and thereafter | 264,952 |
Total | $ 401,483 |
Commitments and Contigencies (D
Commitments and Contigencies (Details Narrative) | 3 Months Ended | 6 Months Ended | 21 Months Ended | |
Mar. 31, 2019 | Jun. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2018 | |
Two Newbuild Japanese VLCCs | ||||
Lessor, Lease, Description [Line Items] | ||||
Term of finance lease | 12-year | |||
Number of vessels | 2 | |||
First Newbuild Japanese VLCC | ||||
Lessor, Lease, Description [Line Items] | ||||
Date of delivery | fourth quarter of 2020 | |||
Second Newbuild Japanese VLCC | ||||
Lessor, Lease, Description [Line Items] | ||||
Date of delivery | first quarter of 2021 | |||
Third Newbuild Japanese VLCC | ||||
Lessor, Lease, Description [Line Items] | ||||
Term of finance lease | 12 year | |||
Date of delivery | second quarter of 2021 | |||
Fourth Newbuild Japanese VLCC | ||||
Lessor, Lease, Description [Line Items] | ||||
Term of finance lease | twelve year | |||
Date of delivery | second quarter of 2022 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | 26 Months Ended | |||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Oct. 31, 2019 | Nov. 29, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 28, 2020 | Dec. 31, 2019 | Feb. 28, 2018 | |
Class of Stock [Line Items] | |||||||||||
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 | 250,000,000 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Common Stock, Shares, Issued | 16,089,890 | 16,089,890 | 15,873,391 | ||||||||
Common Stock, Shares, Outstanding | 16,089,890 | 16,089,890 | 15,873,391 | ||||||||
Share-based Payment Arrangement, Noncash Expense | $ 246 | $ 460 | |||||||||
Restricted Stock [Member] | Directors and/or officers | Share-based awards, 2018 | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 0 | 129,269 | |||||||||
Vesting period | four years | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.36 | ||||||||||
Share-based awards, Total fair value on grant date | $ 693 | ||||||||||
Share-based Payment Arrangement, Noncash Expense | $ 47 | $ 90 | $ 94 | 179 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 95,452 | 95,452 | 96,952 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 233 | $ 233 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||||||||||
Restricted Stock [Member] | Directors and/or officers | Share-based awards, 2017 | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 0 | 118,328 | |||||||||
Vesting period | four years | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 17.7 | ||||||||||
Share-based awards, Total fair value on grant date | $ 2,094 | ||||||||||
Share-based Payment Arrangement, Noncash Expense | $ 76 | $ 141 | $ 152 | $ 281 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 58,496 | 58,496 | 59,162 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 267 | $ 267 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 6 months | ||||||||||
Common Stock [Member] | Registered Direct Offering | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, New Issues | 1,875,000 | ||||||||||
Sale of Stock, Price Per Share | $ 8 | ||||||||||
Gross proceeds | $ 15,000 | ||||||||||
Noninterest Expense Offering Cost | 675 | ||||||||||
Deferred Offering Costs | 957 | ||||||||||
Stock Issued During Period, Value, New Issues | $ 13,368 | ||||||||||
Common Stock [Member] | Continuous Offering Program Sales Agreement | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock Issued During Period, Shares, New Issues | 486,519 | ||||||||||
Stock Issued During Period, Value, New Issues | $ 3,047 | ||||||||||
Common Stock [Member] | Continuous Offering Program Sales Agreement | Maximum [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Sale of Stock, Consideration Received Per Transaction | $ 25,000 | ||||||||||
Common Stock [Member] | Share repurchase program | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock Repurchase Program, Authorized Amount | $ 25,000 | ||||||||||
Stock Repurchase Program, Period in Force | two years | ||||||||||
Expiration date | February 2020 | ||||||||||
Stock Repurchased and Retired During Period, Shares | 735,251 | ||||||||||
Stock Repurchased and Retired During Period, Value | $ 7,493 |
Segment Information - Revenue b
Segment Information - Revenue by Geographic Region (Table) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 112,224 | $ 58,585 | $ 210,081 | $ 135,704 |
Asia [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 87,753 | 43,466 | 161,265 | 101,784 |
Europe [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 16,659 | 4,232 | 33,558 | 9,148 |
UNITED STATES | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 7,812 | $ 10,887 | $ 15,258 | $ 24,712 |
Segment Information (Details Na
Segment Information (Details Narrative) | 6 Months Ended |
Jun. 30, 2020 | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 1 |
Earnings_ (loss) per Common S_3
Earnings/ (loss) per Common Share - Calculation per Share (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Numerator: | ||||||
Net income/ (loss) | $ 31,017 | $ 869 | $ (16,550) | $ 861 | $ 31,886 | $ (15,689) |
Less: | ||||||
Dividend declared on restricted shares | (47) | (65) | (94) | (131) | ||
Undistributed loss attributable to Series C participating preferred shares | 0 | 0 | 0 | (13) | ||
Net income/ (loss) attributable to common stockholders, basic | 30,970 | (16,615) | 31,792 | (15,833) | ||
Plus: | ||||||
Undistributed income attributable to Series C participating preferred shares | 0 | 0 | 0 | 13 | ||
Net income/ (loss) attributable to common stockholders, diluted | $ 30,970 | $ (16,615) | $ 31,792 | $ (15,820) | ||
Denominator: | ||||||
Denominator for basic net income/ (loss) per share — weighted average shares | 15,888,354 | 13,510,361 | 15,803,166 | 13,414,547 | ||
Series C participating preferred shares | 0 | 0 | 0 | 0 | ||
Denominator for diluted net income/ (loss) per share — adjusted weighted average shares | 16,043,704 | 13,510,361 | 15,958,897 | 13,414,547 | ||
Net income/ (loss) per share, basic | $ 1.95 | $ (1.23) | $ 2.01 | $ (1.18) | ||
Net income/ (loss) per share, diluted | $ 1.93 | $ (1.23) | $ 1.99 | $ (1.18) |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||||
Greek Tonnage tax | $ 69 | $ 233 | $ 959 | $ 399 |
Subsequent events (Details Narr
Subsequent events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 7 Months Ended | |
Jul. 28, 2020 | Jun. 30, 2020 | |
Ship Mortgage Notes $670,000 | ||
Subsequent Event [Line Items] | ||
Debt Instrument, Repurchased Face Amount | $ 9,000 | |
Debt Instrument, Repurchase Amount | $ 5,338 | |
Installemnt 3 - FY 2020 | Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Dividends Payable, Date Declared | Jul. 28, 2020 | |
Dividends Payable, Amount Per Share | $ 0.30 | |
Dividends Payable, Date of Payment | Oct. 8, 2020 | |
Dividends Payable, Date of Record | Sep. 4, 2020 |