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Navios Maritime Holdings Inc News

28 Jul 2022

Navios Maritime Holdings Sells Its 36 Dry Bulk Vessels to Navios Maritime Partners

Navios Maritime Holdings Inc. on Wednesday announced it has reached a deal to sell its 36-vessel dry bulk fleet to Navios Maritime Partners L.P. approximately $835 million.Navios Holdings, which holds a 10.3% interest in the US publicly listed shipping company Navios Partners, with the sale officially exited direct fleet ownership. Going forward, the company said kit plans to focus on growing Navios South American Logistics Inc. business."We believe Navios Logistics is a leading…

27 May 2020

Pangaea Takes Top Spot in Dry Bulk Benchmark Study

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

27 Aug 2018

Navios Taps Bryan as COO

Navios Maritime Holdings Inc. has hired Cargill's dry bulk trading head Jeremy J. Bryan as chief operating officer of Navios Corporation, effective as of February 1, 2019.Bryan, who worked at Cargill International S.A. since 1992, has served in various positions during his tenure there, most recently as global head of dry bulk trading, having previously served as the head of the Panamax and Handymax trading departments.He has also served as a Lieutenant in the Dutch Military and has a Bachelor of Business Administration from the Nijenrode Business University.

23 Mar 2018

JPM shifts its Ballast

GLOG, NM, NAP down early Fri by ~5 pct, ~8 pct and ~3 pct, respectively. Lead analyst Noah Parquette sees most shipping sectors recovering, notes that dry bulk and LNG shipping have progressed furthest but crude tankers' risk trough could be extended to early 2019 on high scrapping activity and low orders. Meanwhile, the Baltic Exchange Dry Index has dropped by ~18 pct since the beginning of the year.

22 Feb 2018

Navios Maritime Closes $35M Offering

Owner and operator of container and dry bulk vessels Navios Maritime Partners L.P. has closed the previously announced offering of approximately 18.4 million common units at $1.90 per common unit, raising approximately $35.0 million of gross proceeds. Navios Partners will use the net proceeds of the offering for general working capital purposes, including vessel acquisitions. Following the closing, Navios Partners will have 167,589,764 common units and 3,420,203 general partner units outstanding. This includes $5.0 million of common units purchased by Navios Maritime Holdings Inc., and the purchase of general partner units by Navios GP L.L.C., our general partner, a wholly-owned subsidiary of Navios Holdings, to maintain its 2.0% general partner interest in Navios Partners.

20 Sep 2016

$70 Million Loan Facility for Navios

Navios Maritime Acquisition Corporation, announced today that it has agreed to provide a $70 million secured loan facility maturing in November 2018 to Navios Maritime Holdings Inc. The Loan Facility bears interest of 8.75%, compounded semi-annually and is secured by (1) all of Navios Holdings’ interest in Navios Acquisition, composed of 65,301,220 shares of common stock and 1,000 preferred shares (convertible into 7,676,000 shares of common stock) and (2) 78.5% of Navios Holdings’ interest in Navios South American Logistics, Inc. (Navios Logistics) composed of 10,021 shares representing a majority of the shares outstanding of Navios Logistics. Interest will accrue and be payable upon the maturity of the loan. A 1% fee was payable on the closing.

04 Apr 2016

Navios Regains NYSE Compliance

Navios Maritime Holdings Inc. regains compliance with NYSE continued listing requirements   Dry bulk shipping and logistics firm Navios Maritime Holdings Inc. announced that, based upon a notice received on April 1, 2016 from the New York Stock Exchange, Inc. (NYSE), the company is once again in compliance with the NYSE’s continued listing requirement of a minimum average closing price of $1.00 per share over a consecutive 30 trading-day period.   At the close of trading on March 31, 2016, the average closing price of Navios’ common stock for the previous 30 trading-days was above $1.00 per share and its closing share price on March 31, 2016 exceeded $1.00. Accordingly, the company has resumed compliance with all NYSE continued listing requirements.

15 Jun 2015

SCI Presents Silver Bell Awards 2015

Photo: SCI

A shared passion and concern brought together a diverse group of people from several segments of the maritime industry to celebrate the milestone achievements of three careers and to raise funds to support mariners served by SCI. More than 770 individuals assembled on Thursday, June 4, 2015, at the Seamen’s Church Institute’s (SCI) 38th Annual Silver Bell Awards Dinner in New York City to honor the maritime industry contributions of three individuals. SCI presented Angeliki Frangou…

25 Nov 2014

Navios Revenue Up 25% in 3Q 2014

Highlights of Navios Maritime Holdings Inc. IPO of Navios Maritime Midstream Partners L.P. Navios Maritime Holdings Inc. a global vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the third quarter of 2014, for which we reported EBITDA of $42.4 million, a 5% increase compared to the same period last year. As a result, we have announced a dividend of 6 cents for Q3 2014 representing a yield of about 4.2%. On September 17, 2014…

21 Aug 2014

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

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. 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. 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.

25 Jun 2014

Navios Maritime Holdings Declares Dividend on Series G

Navios Maritime Holdings Inc. ("Navios Holdings" or the "Company") (NYSE: NM) announced today that the Company has declared a cash dividend of $54.6875 per share on its 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock (the "Series G Preferred Stock"), equivalent to a cash dividend of $0.546875 per American Depositary Share, for the period from April 15, 2014 to July 14, 2014. The dividend will be paid on July 15, 2014 to holders of record as of July 8, 2014. The American Depositary Shares are currently listed on the New York Stock Exchange under the symbol "NMPrG."

21 May 2014

Navios Maritime Reports $2 mln income for Q1 2014

Navios Maritime Holdings Inc. ("Navios Holdings" or "the Company") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the quarter ended March 31, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the first quarter of 2014, for which we reported net income of $2.0 million and EBITDA of $59.8 million. Angeliki Frangou continued, "By establishing and developing in house technical and commercial management, we have been able to achieve a significant competitive advantage through economies of scale. We self-manage our vessels because we believe that by doing so, we operate more efficiently, to the material benefit of our stakeholders.

19 Feb 2014

Navios Rings NYSE Closing Bell

Photo: Greg Trauthwein

Navios Maritime Holdings Inc. Chairman and CEO Angeliki Frangou, along with members of the Navios Maritime Holdings Inc. management team, commemorated the company's 60th Anniversary by ringing the NYSE Closing Bell today, Wednesday, February 19, 2014. Prior to the ceremony, Frangou commented, "We are pleased to be back at the NYSE to ring the closing bell, celebrating of our 60th anniversary. We are also delighted that the Uruguayan Minister of Foreign Affairs, Luis Almagro, and the Minister of Finance, Mario Bergara will join us to celebrate our long-time activities in Uruguay.

14 Feb 2014

Navios to Ring NYSE Closing Bell

Navios Maritime Holdings Inc. announced that Chairman and CEO Angeliki Frangou, along with members of the Navios Maritime Holdings Inc. management team, will commemorate the Company's 60th Anniversary by ringing the NYSE Closing Bell on Wednesday, February 19, 2014. Frangou commented, "We are pleased to be back at the NYSE to ring the closing bell, celebrating of our 60th anniversary. We are also delighted that the Uruguayan Minister of Foreign Affairs, Luis Almagro, and the Minister of Finance, Mario Bergara will join us to celebrate our long-time activities in Uruguay. A live feed of the bell ringing can be found on Livestream at http://new.livestream.com/NYSEeuronext starting at 3:56 p.m. An archive of the bell ringing will be available shortly after.

21 Aug 2013

Navios Group Forms Navios Europe

The Navios Group, composed of Navios Maritime Holdings Inc. (NM), Navios Maritime Acquisition Corp.(NNA) and Navios Maritime Partners L.P. (NMM), announced the formation of Navios Europe Inc. as the next step in concluding the letter of intent signed with HSH Nordbank AG in April of 2013. Navios Europe, which will initially acquire five product tankers and five container vessels from debtors of HSH, will be owned 47.5% by Navios Holdings, 47.5% by Navios Acquisition and 5% by Navios Partners. It is anticipated that funding requirements will be satisfied in the same percentages. In August 2013, Navios Europe arranged technical and commercial management for five out of the 10 vessels.

19 May 2011

Navios Maritime Partners to Purchase Two Vessels

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, announced today that it has agreed to purchase from Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE:NM) the Navios Orbiter, a 2004-built Panamax vessel of 76,602 dwt, and the Navios Luz, a 2010-built Capesize vessel of 179,144 dwt, for a total consideration of $130.0 million. The vessel is chartered out at $38,052 (net) per day, for approximately 3 years, until April 2014. The…

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.

18 Jan 2011

New York Shipping Conference: The New Normal

Examining key industry drivers is the focus of the 17th annual Hellenic-American and Norwegian-American Chambers of Commerce annual conference, often called the New York Shipping Conference. Entitled “Challenges & Opportunities for the Shipping Industry: Is There a New Normal?” the conference will present the macro shipping and economic overview, the impact of increasing environmental regulation on the shipping market, the availability of capital and its many forms, the growing influence of China and India on Shipping, and shipowners’ points of view. The event will be held on Tuesday, February 8th at the Waldorf-Astoria (a new venue for this event) starting at 0815 with conference registration and coffee.

02 Nov 2010

Navios Maritime Takes Delivery of Capesize Newbuild

Navios Maritime Holdings Inc. (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, announced that the Capesize vessel Navios Buena Ventura of 179,109 dwt was delivered from a South Korean shipyard to Navios Holdings' owned fleet on October 29, 2010. The vessel is chartered-out for ten years at a net rate of $29,356 per day with 50/50 profit sharing above a BCI Time Charter Average of $38,500.

23 Jul 2010

Navios Maritime Appoints Loizos to Board

Navios Maritime Holdings Inc., a vertically integrated seaborne shipping and logistics company, announced the appointment of Efstathios Loizos to its Board of Directors. Efstathios Loizos is a member of the Board of Directors of ION S.A.. He is also the President of the International Packaging Association and the Vice President of the board of directors of the Hellenic Association of Steel Packaging Manufacturers. Mr. Loizos received a Maitrise en Sciences Economiques from the University of Strasbourg and an M.B.A. in finance from New York University.

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 Mar 2010

Navios Maritime Purchases Navios Aurora II

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, announced the purchase of Navios Aurora II, a 2009 South Korean-built Capesize vessel with a capacity of 169,031 dwt, for $110m from Navios Maritime Holdings Inc. (NYSE: NM). The vessel is chartered out until November 2019 for $41,325 (net) per day. $20m of the purchase price is funded by the issuance 1,174,219 common units of Navios Partners. The $17.03 issue price reflects NYSE's volume weighted average price of the common units for the  five business day period prior to the acquisition of the vessel. The balance of $90m of the purchase price is funded by $60m cash on the balance sheet and $30m of new debt.

12 Apr 2010

Navios Appoints George Malanga to Board

Navios Maritime Holdings Inc. (NYSE:NM), a global, vertically integrated seaborne shipping and logistics company, announced the appointment of George Malanga to its Board of Directors. George Malanga is currently serving as the Chief Credit Officer of The Bank of New York Mellon Corporation. Malanga holds a bachelor degree in Business Administration from Rutgers College and an MBA in Finance from New York University. Navios Holdings has also announced that Rex Harrington, who has been a director of Navios Holdings' since October 2005, has resigned so that he can join the board of Navios Maritime Acquisition Corp. (NYSE:NNA.U).