Strong results for Navios Holdings

The strong dry bulk freight market also had a positive effect on the financial results of Navios Maritime Holdings of Aggeliki Frangou.

Ms. Frangou’s shipping company listed on NYSE returned to profitability in the second quarter of 2021 while also recording significantly increased revenues.

In particular, the company’s revenue amounted to $ 143.624 million against $ 97.127 million a year ago and profits reached $ 24.936 million against losses of $ 35.271 million last year in the second quarter.

The president and CEO of the company Ms. Angeliki Frangou states that the market for bulk dry cargo is very strong and is optimistic that healthy fares for all categories of ships will continue as the demand for iron ore, coal and grain is high.

Navios Hodings will control 10.3% of the new shipping giant created by Ms. Frango with the merger of Navios Maritime Partners LP (98 vessels) and Navios Maritime Acquisition (45 vessels), while it has a fleet of 38 vessels with a total carrying capacity of 4.1 million dwt of which 25 are privately owned and 13 are long-term chartered contracts.

By category of ships 12 are Capesize, 21 Panamax, four Ultra-Handymax and Handysize with an average age of 8.6 years.

Navios Holdings has secured 80.5% of its fleet operating days for charters for the next six months of 2021, with an average daily revenue per ship of $ 16,441.