Navios Maritime Announces Sasada as COO

Friday, June 22, 2007
Navios Maritime Holdings Inc. a large, global, vertically integrated seaborne shipping company, announced today that Sasada has been appointed Chief Operating Officer of Navios Corporation. Sasada began his shipping career in 1981 in Japan with Mitsui O.S.K. Lines, Ltd. (MOSK), as a salesmen. Sasada subsequently worked in the tramp section in Mitsui's bulk carrier division overseeing operations and chartering of approximately 30 Handysize vessels. In 1991, Sasada joined Trinity Bulk Carriers in Norway as its chartering manager and board member. Sasada subsequently launched MOSK's London operations as General Manager. Sasada joined Navios in May 1997 and most recently served as Senior Vice President Fleet Development. He is a graduate of Keio University, Tokyo, with a BA degree in Business.

Time Charter for the Navios Esperanza Navios also announced a new time charter of the Navios Esperanza, a panamax that will be delivered to Navios's long term chartered-in fleet in August of 2007. The 75,200 dwt panamax has been contracted for two years at a net rate of $37,056 commencing upon delivery. As a result of this new charter, Navios has extended the coverage of its core fleet (excluding vessels acquired through the Kleimar N.V. transaction) to 94.2% for 2007, 67.5% for 2008 and 25.8% for 2009.

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