Navios Maritime

Angeliki Frangou led Navios Maritime Partners has acquired a capesize and a panamax bulk carrier from its sister company, New York-listed Navios Maritime Holdings. Navios Maritime Partners acquired 2014 built capesize bulk carrier 181K DWT MV Navios Gem and 2014 built panamax bulk carrier 77K DWT MV Navios Victory for around $51 million in total. Both, MV Navios Gem and MV Navios Victory are chartered out for period. Navios Maritime Partners announced the purchase was authorized by the conflicts committee of its BOD (Board of Directors). Currently, Navios Maritime Partners controls 55 ships, and Navios Maritime Holdings controls 23 ships. 1-October-2020

 

New York-listed Navios Maritime Holdings sold management division for around $20 million to N Shipmanagement Acquisition Corporation which is affiliated with CEO Angeliki Frangou. Navios Maritime Holdings will be paid $3,700 per day per ship for the next two (2) years. N Shipmanagement Acquisition Corporation will provide ship management services for Navios Maritime Holdings. Furthermore, N Shipmanagement Acquisition Corporation will own the general partner interests in Navios Maritime Containers and Navios Maritime Partners. N Shipmanagement Acquisition Corporation was announced on 27 August 2019 by Navios Maritime Holdings after New York Stock Exchange closing bell. Greek Angeliki Frangou led Navios Maritime Holdings owns 168 vessels. 1-September-2019

 

Angeliki Frangou led Navios Maritime Holdings spin-offs have acquired 16 ships from affiliate company Navios Europe I which is liquidated. Navios Maritime Partners has acquired 11 containerships and bulk carriers. Navios Maritime Acquisition has acquired 5 product carriers. In October 2019, Angeliki Frangou explained that the affiliate Navios Europe I could be dissolved by the end of 2019. Navios Maritime Partners was owed $48.2 million and Navios Maritime Acquisition was owed $32.3 million by affiliate Navios Europe I. Furthermore, Navios Maritime Partners has struck a deal to buy four (4) bulk carriers for $37 million from companies affiliated to Angeliki Frangou. $37 million loans is financed with an annual interest of LIBOR plus 475 basis points and maturity in 2022. In another deal, Navios Maritime Partners bareboat charter-in two (2) newbuilding 81K DWT kamsarmax bulk carriers for 10 years with an option to buy after four years. Kamsarmax bulk carriers will be delivered in Q2 and Q3 of 2021. Currently, Navios Maritime Partners has a fleet of 32 dry bulk carriers and 5 containerships. 3-December-2019

 

Angeliki Frangou led Navios Maritime Partners acquired 2005 built panamax dry bulk carrier 87K DWT for $12.95 million. With the latest acquisition, Navios Maritime Partners increased its fleet to 40 ships. The new panamax dry bulk carrier is expected to generate $3.2 million of EBITDA per year. New York-listed Navios Maritime Partners will finance the acquisition of the new panamax dry bulk carrier with cash on its balance sheet and bank debt at terms similar to its existing facilities. Navios Maritime Partners expects to distribute dividends approximately $3.4 million quarterly and $13.7 million annually. 18-March-2018

 

New York-listed shipowner and operator Navios Maritime Partners acquired two (2) panamax dry bulk carriers built-in 2006 74K DWT for $22 million total.  Two (2) panamax dry bulk carriers are expected to be delivered to Navios Partners’ fleet within Q1 2018. Acquired two (2) panamax dry bulk carriers are currently under period hire at $9,375 per day until May/November 2018. Newly acquired two (2) panamax dry bulk carriers will generate approximately $4.8 million. New York-listed shipowner and operator Navios Maritime Partners reported that 2 panamax dry bulk carriers will be financed with cash on its balance sheet. 25-January-2018

 

New York-listed Navios Maritime Holdings sister company Navios Partners’ 2004 built panamax dry bulk carrier 76K DWT M/V Navios Orbiter suffered a small fire on board which was quickly extinguished, with no injuries reported with the assistance of English Immingham Port Authorities. At the time of the incident 19 crew members on board of M/V Navios Orbiter. 17-April-2017

 

New York-listed Navios Group’s technical manager Navios Ship Management signed an LOI (Letter of Intent) with DuPont for improved exhaust gas scrubbers for upcoming sulfur emission limits. Angeliki Frangou-led Navios Group is almost operating 163 mixed fleet. IMO 0.5% sulphur deadline is 2020 from the current 3.5% sulphur limit. 12-April-2017

 

New York-listed Navios Maritime Holdings sister company Greek tycoon Angeliki Frangou-led Navios Maritime Partners bought 2007 Korea built two panamax dry bulk carriers 75K DWT M/V Imperial and 74K DWT M/V Libertas for a total $27 million from Croatian shipowner and operator Atlantska Plovidba. It seems like opportunistic times to invest in dry bulk carriers at this level. Croatian shipowner and operator Atlantska Plovidba has 11 dry bulk carriers. 10-April-2017

 

Capesize spot rates reached $20,600 per day. The latest dry bulk market pike in rates was at least temporarily. Navios Maritime Holdings chartered out 2 capesize dry bulk carriers 179K DWT M/V Navios Bonheur at an index-linked rate and 180K DWT M/V Navios Happiness at an undisclosed fixed rate. 2-April-2017

 

New York-listed dry bulk owner and operator Navios Maritime Partners sold 2000 built handymax dry bulk carrier 52K M/V Navios Apollon following the end of a time charter for $5 million to Chinese shipowners for further trading. Greek shipowner Angeliki Frangou led Navios Maritime Partners one of the oldest handymax bulk carriers in the fleet. Navios Maritime Partners has a larger presence in the capesize and panamax dry bulk carrier sectors. 5-January-2017

 

Athens-based and New York-listed Navios Maritime Holdings CEO Angeliki Frangou has bought $10 million stocks of her own company i.e 32.7 million shares equals 26.9% stake of Navios Maritime Holdings. Navios Maritime Holdings has 42 vessels in fleet and CEO Angeliki Frangou’s stake is worth almost $60 million. 15-April-2017

 

New York-listed, CEO Angeliki Frangou-led, bulker owner Navios Maritime Holdings shares moved up 21.3% to $1.54 after receiving a boost from an arbitration ruling that declared that a key contract with Vale is valid. Vale, the Brazilian mining giant, had tried to back out of the iron ore terminal deal. Friday’s closing spike of Navios Maritime Holdings’ shares materially improves the outlook for the dry bulk shipping business. 26-December-2016

 

One of the modern Greek Shipping founder Captain Nikolaos Frangos died at the age of 90. Navios Group CEO Angeliki Frangou’s father Captain Nikolaos Frangos spent his lifetime in the shipping business. Captain Nikolaos Frangos was one of the most emblematic figures of Greek shipowning. Captain Nikolaos Frangos was born in 1926 in Kardamyla, Chios. Tsakos and Angelicoussis shipping clans also hail from Chios. Captain Nikolaos Frangos story as an independent owner began in 1960 when he bought his first ship, which he named M/V Captain Frangos. Captain Nikolaos Frangos was one of the first owners to make contacts with China. Captain Nikolaos Frangos established Good Faith Shipping which becomes one of the biggest ship-management companies in Greece. 21-December-2016

 

New York-listed shipowner Navios Maritime Partners which is led by is Angeliki Frangou is expected to hold onto newfound cash, rather than rushing to return it to shareholders. CEO Angeliki Frangou says Navios Maritime Partners is focused on ensuring stability now before resuming a dividend or buying up shares. Navios Maritime Partners would consider deploying liquidity to buy shares that are trading well below net asset value (NAV). 1-September-2016