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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Two New Hybrid RTGs for Port of Shanghai

Corvus Energy informs it will provide the battery systems for an additional two hybrid solutions for new rubber-tired gantry cranes (RTGs) that will be produced

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Puget Sound Reports Container Volume Growth

Less congestion and efficient cargo movement helped international container volumes through the Puget Sound gateway improve 14 percent in June compared to June 2014, the port reported.

Vessels

Engine Refit for Mersey Pilot Boat

James Troop supplies two new Volvo Penta engines to upgrade Mersey pilot boat   Merseyside-based engine specialist James Troop & Co has secured a deal to supply

Eastern Launches Second MPSV for Hornbeck

Eastern Shipbuilding Group, Inc. has launched the second of two 302’x76’x26’ multipurpose service vessels in the HOSMPSV 310ES series for Hornbeck Offshore Services, LLC.

NYK Vessel Rescues 336 in the Mediterranean

On July 14, Hermes Leader, a car carrier operated by NYK Line, rescued 336 people in the Mediterranean Sea. On July 14, the vessel received an emergency

Logistics

Two New Hybrid RTGs for Port of Shanghai

Corvus Energy informs it will provide the battery systems for an additional two hybrid solutions for new rubber-tired gantry cranes (RTGs) that will be produced

Puget Sound Reports Container Volume Growth

Less congestion and efficient cargo movement helped international container volumes through the Puget Sound gateway improve 14 percent in June compared to June 2014, the port reported.

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1647 sec (6 req/sec)