Navios Maritime Acquisition announced its best set of quarterly results since merging with spin-off Navios Midstream Partners and said its focus going forward is on refinancing its debt.

New York-listed Navios Acquisition, itself a tanker spin-off of Angeliki Frangou-led Navios Maritime Holdings, reported adjusted net income of $32.4m, up from a loss of $18.6m in the same period last year.