Navios Maritime Q2/13 report
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MONACO -- (Marketwired) -- 08/22/13 -- Navios Maritime Holdings Inc. (NYSE: NM)
Navios Maritime Holdings Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2013
$125.6 million of Revenue and $38.8 million of EBITDA for Q2 2013
Declared quarterly dividend of $0.06 per share for Q2 2013
$277.1 million of cash as of Q2 2013
Fleet coverage of 84.6% for 2013; 21.5% for 2014
Low cash flow breakeven of $5,365 per open day for 2013
Strategy of fixing vessels for period charters above cash flow breakeven with market exposure
Recent charters provide base rate and profit sharing or index plus premium
Latest capesize fixture for $18,000 to $19,400 gross per day for 95 days
11% of fleet and 33% of charters fixed since June have market exposure mechanism
Navios Logistics continued growth
$17.6 million of EBITDA for Q2 2013
$4.4 million of Net Income for Q2 2013
Acquired three convoys for approximately $49 million to support iron ore transportation
Formed Navios Europe Inc. and arranged technical and commercial management for five of the ten vessels pursuant to a letter of intent with HSH Nordbank AG
- more here:
http://phx.corporate-ir.net/phoenix.zhtml?c=187110&p=irol-newsArticle_print&ID=1849228&highlight=
http://www.navios.com/home.asp
- more here:
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