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Navios Hyperion News

25 Jan 2011

Navios Maritime Q4, Year End Results

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, reported its financial results for the fourth quarter and year ended December 31, 2010. Ms. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "We are pleased to increase our cash distribution per unit for the fourth quarter. Ms. Frangou continued, "Overall, 2010 was a good year for Navios Partners. We grew the asset base substantially by adding 5 new vessels, all with long-term charters. At the same time, we reduced our leverage ratios. The Board of Directors of Navios Partners declared a cash distribution for the fourth quarter of 2010 of $0.43 per unit.

28 Jul 2010

Navios Maritime Partners Results for Q2 2010

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, reported its financial results for the second quarter and six months ended June 30, 2010. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "I am pleased with our performance during the second quarter. We raised $92.3 million in the equity markets and purchased the Navios Pollux. The acquisition of the Navios Pollux increases the average charter coverage of our fleet to 4.4 years and reduces the average age of our fleet to 5.7 years. Throughout this release, EBITDA for the three and six months ended June 30, 2009 represents net income before interest…

28 May 2010

Navios Maritime Q1 Results

Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, reported financial results for the first quarter ended March 31, 2010. Angeliki Frangou, Chairman and CEO of Navios Holdings stated, "I am pleased with our performance thus far in 2010. During a period of continued uncertainty, Navios Holdings created liquidity from the sale of three vessels and used the sale proceeds to increase its cash reserves and deleverage. Frangou continued, "We were pleased to announce that Navios Acquisition's shareholders approved the acquisition of a fleet of 13 product and chemical tankers. We believe that…

23 Feb 2010

Navios Reports Q4 Results

Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, reported financial results for the fourth quarter and year ended December 31, 2009. Angeliki Frangou, Chairman and CEO of Navios Holdings, said, "Our industry entered 2009 facing challenges virtually without precedent. The economic crisis required that Navios focus on its balance sheet, which we did by raising more than $1.3 billion in a mix of equity and long-term debt from the capital markets and commercial banks. Part of these proceeds were used to acquire seven capesize vessels, delivering in 2010, with secured cash flows for the next ten years. Shareholders protected from undue dilution - 14% dilution scheduled over a ten-year period.

13 Jan 2010

Navios Maritime Sells Hyperion

Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced that on January 8, 2010, it has sold the Navios Hyperion, a 2004 Japanese-built Panamax vessel with a capacity of 75,707 dwt to Navios Maritime Partners L.P. for $63m in cash. Navios Hyperion has been chartered out at a net rate of $32,300 per day until February 2010 and $37,953 per day until April 2014. Navios Holdings intends to use the proceeds from the sale of this vessel for operating purposes, such as repayment of indebtedness or reinvestment in vessels. (www.navios-mlp.com)

01 Mar 2007

Navios Announces New Long-Term Time Charters

Navios Maritime Holdings Inc. has secured two new favorable time charter contracts. For the 2004-built panamax Navios Hyperion, a 24-month charter commenced February 26, 2007, at a net rate of $26,268 per day, replacing a charter at a rate of $15,400 per day. 24-month charter commenced March 1, 2007, at net rate of $27,312 per day, replacing a charter at a rate of $21,175. of the Navios Hyperion into its owned fleet on February 26, 2007. purchase option price for this vessel was approximately $20.2 million. Navios Hyperion's current market value is estimated at $50.5 million. panamaxes, ten ultra-handymaxes and one product tanker).