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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

First Women's Expedition to the Arctic

Company "MyArctic-expeditions" organize the first women's expedition to the Arctic Ocean. The expedition will start on March 5 in the capital of the Nenets Autonomous

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

Sardines Boost Murmansk Port Turnover

In January 2016 turnover of the Murmansk Marine Fishing Port reached 22 thousand tons of cargo, including 15 thousand tons of fish. This is higher than last year,

Vessels

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

Logistics

Sardines Boost Murmansk Port Turnover

In January 2016 turnover of the Murmansk Marine Fishing Port reached 22 thousand tons of cargo, including 15 thousand tons of fish. This is higher than last year,

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MOL Enhances CSW Service between Asia and East Coast South America

Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda) today announced the enhancement of its Asia and East Coast South America trade by merging existing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Sonar 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: 0.0975 sec (10 req/sec)