Navios Maritime Acquisition has seen its first-quarter profit fall in line with the market’s expectations as it signed a new loan facility.
The tanker company of Navios Group reported net income of $5.6m, compared to $23.8m in the corresponding quarter of 2016.
Earnings per share of $0.04 coincided with Wall Street’s expectations while revenue fell from $80.4m to $64.5m.
The profit decline was largely due to weaker tanker rates in the first quarter.
