Navios Maritime Reports Better Revenues for 2Q & 1H, 2014

By Joseph R. Fonseca
Thursday, August 21, 2014
Angeliki Frangou, Chairman of the Board and Chief Executive Officer

 

Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the second quarter and six months ended June 30, 2014.

Revenue
$145.4 million Revenue for Q2 2014; $267.6 million for H1 2014

Adjusted EBITDA
33% increase to $51.4 million for Q2 2014;
44% increase to $111.2 million for H1 2014

Dividend of $0.06 per share for Q2 2014

$170 million issuance of Preferred Stock 2014YTD
$120 million in July 2014
$50 million in January 2014

One of the largest US-listed dry bulk fleets

63 vessels controlled - 6.2 million dwt, 54 vessels in the water - 5.3 million dwt
18 Capesize vessels
23 Panamax vessels
22 Ultra Handymax and Handysize vessels

Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the second quarter of 2014, for which we reported revenue of $145.4 million, a 16% increase and Adjusted EBITDA of $51.4 million, a 33% increase compared to the same period last year. We are also pleased to again announce a dividend of 6 cents for Q2 2014 representing a yield of 2.6%."

Angeliki Frangou continued, "We have created a significant competitive advantage through our in house technical and
commercial management. These skills reduce our daily opex 34% below the industry average and control G&A expense so that they are below our public peers. These skills harness scale and create operating leverage by reducing costs in a way that would not be possible, in our view, with a third party provider."

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Vessels

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

MARAD Publishes US ATB, ITB Database

The U.S. Maritime Administration (MARAD) released what it is calling a first-of-its-kind public database that chronicles U.S.-flagged, privately owned domestic

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

Logistics

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1460 sec (7 req/sec)