Navios Maritime Acquisition reported a dip in quarterly profit but highlighted that its long-term charter book helped it beat the spot market.

The New York-listed company, which is the main tanker owner in the Angeliki Frangou's Navios-led group, reported net income of $18.1m for the final quarter of last year.

That represents an 11.1% decline from the $20.1m in profit booked in the same period of last year.

Adjusted