Navios Midstream last week announced increased revenues and profits for Q2 2018, while the former also said it has received an buyout offer by Navios Maritime Acquisition Corp. (NVAOS) via a share exchange.
Navios Acquisition operates a fleet of 35 tankers and controls 55.5 percent of Navios Midstream, which operates six tankers.
The board of directors of both companies are reportedly studying the offer.
Navios Midstream’s revenues in the second quarter of the year reached 20.8 million USD, up from 18.5 million in the corresponding period of 2017, a development linked to more days on contract recorded by the company’s vessels: 517, up from 463 in the corresponding period of 2017.
The average per diem revenue per vessel reached 39.578 USD in Q2 2018, up from 39,432 USD in the corresponding period of 2017.
Net profits reached 4.3 million USD in the quarter, which ended in June 2018, significantly up from 2.3 million USD from Q2 2017.
Navios Midstream president and CEO Angeliki Frangou expressed satisfaction over the results. She added that EBITDA reached 14.7 million USD, with net revenues at 4.3 million USD.
Finally, the shipping company announced the distribution of a 0.125 USD dividend per share.
