Navios Maritime shares moved up

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, 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 dry bulk shipping business.