Navios Maritime

CEO Angeliki Frangou has placed herself as the majority owner of New York-listed shipowner and operator Navios Maritime Holdings (NM) after Angeliki Frangou converted more debentures she had held since January refinancing package. Angeliki Frangou owns the shares of New York-listed shipowner and operator Navios Maritime Holdings (NM) through Raymar Investments, Amadeus Maritime, and Navios Shipmanagement (NSM). CEO Angeliki Frangou gathered 5.33 million more shares of New York-listed shipowner and operator Navios Maritime Holdings (NM) through the convertible debenture and put them under Navios Shipmanagement (NSM). As a consequence, CEO Angeliki Frangou has 1.27 million remaining shares under a convertible debenture of $24 million with a strike price of $3.90 per share that she can convert into common stock for further ownership in New York-listed shipowner and operator Navios Maritime Holdings (NM). CEO Angeliki Frangou last raised her stake in Navios Maritime Holdings (NM) in early July to 46% when CEO Angeliki Frangou acquired 2.09 million more Navios Maritime Holdings (NM) shares through the convertible debenture and folded them into Navios Shipmanagement (NSM). Currently, Navios Shipmanagement (NSM) holds 17.6 million shares, or 43.5%, of Navios Maritime Holdings (NM). Amadeus Maritime owns 1.27 million shares representing 5.6% of Navios Maritime Holdings (NM), while Raymar Investments holds 1.37 million units, or 6%, of Navios Maritime Holdings (NM). New York-listed shipowner and operator Navios Maritime Holdings (NM) will no longer directly own ships after selling its bulker fleet and is focused on growing CEO Angeliki Frangou’s Navios South America Logistics business, which closed a $550 million refinancing in January, allowing it to pay off $614 million in bonds that had been set to mature in January. New York-listed shipowner and operator Navios Maritime Holdings (NM) will make $10 million quarterly payments to the CEO Angeliki Frangou affiliate starting in Q3 2023 and pay an upfront fee in the form of $24 million in debentures. In late July 2022, New York-listed shipowner and operator Navios Maritime Holdings (NM) sold its 36 bulk carriers to spin-off Navios Maritime Partners for $835 million, after the daughter company had previously taken over Navios Maritime Acquisition for $827million in January 2022. Currently, Angeliki Frangou-led Navios Partners has fleet of 188 vessels and 22 newbuildings. 9-August-2022

 

Angeliki Frangou-led New York-listed shipowner and operator Navios Maritime Holdings (NM) resumes making advancements on slashing debt following a bond buyback. Navios Maritime Holdings (NM) had repurchased $25 million of its 11.25% notes at par. Greek shipowner and operator Navios Maritime Holdings (NM) left with $130 million outstanding on maturity in August 2022. In August 2021, Navios Maritime Partners and Navios Maritime Acquisition merged to bring together bulk carriers with tankers. Navios Maritime Holdings (NM) generate favorable cash flows from the company’s dry bulk fleet in Q1 2022. Furthermore, Navios Maritime Holdings (NM) revealed the company had room to reduce debt after the extremely promising Q4 2021. In 2021, Angeliki Frangou-led Navios Maritime Holdings (NM) had operated creatively to complete a debt package that permitted the company to pay $614 million of ship mortgage notes and to also lower the principal amount outstanding of the senior notes to $155 million. Greek shipowner and operator Navios Maritime Holdings (NM) refinancing was possible because of about $263 million in payment-in-kind loans from an enterprise affiliated with Angeliki Frangou. Navios Maritime Holdings (NM) will pay $10 million quarterly payments to the Angeliki Frangou affiliate beginning in Q3 2023 and pay an upfront fee in the form of $24 million in debentures. Greek shipowner and operator Navios Maritime Holdings (NM) supported the deal as the best opportunity that was available besides Chapter 11 bankruptcy. 20-March-2022

 

Angeliki Frangou-led New York-listed shipowner and operator Navios Maritime Holdings (NM) reported net earnings of $45.8 million for Q4 2021. Navios Maritime Holdings (NM) reported revenue of $156.8 million for Q4 2021. Navios Maritime Holdings (NM) reported a Time Charter Earning of $31,156 per day per ship for Q4 2021. Angeliki Frangou-led New York-listed shipowner and operator Navios Maritime Holdings (NM) paid around $614 million of ship mortgage notes in 2021. New York-listed shipowner and operator Navios Maritime Holdings (NM) decreased the main amount outstanding of the senior notes to $155 million. Greek shipowner and operator Navios Maritime Holdings (NM) closed a $550 million refinancing earlier in 2022 to redeem the notes. Navios Maritime Holdings (NM) will make $10 million quarterly payments to Angeliki Frangou’s private company beginning in Q3 2023 and pay an upfront payment in the form of $24 million in debentures. According to Navios Maritime Holdings (NM), the debt agreement was the best choice that was available besides Chapter 11 bankruptcy reorganization. Currently, Angeliki Frangou-led New York-listed shipowner and operator Navios Maritime Holdings (NM) owns a mixed fleet of 25 ships. 23-February-2022

 

Angeliki Frangou-led Navios Maritime Holdings (NM) paid off its final remaining bond maturity in August. Previously, New York-listed Navios Maritime Holdings (NM) refinanced $550 million including loans from Angeliki Frangou’s sister company. A $550 million loan provides Navios Maritime Holdings (NM) with adequate cash. Despite the current dry bulk market, Navios Maritime Holdings (NM) voiced positiveness about opportunities for the dry bulk shipping market after Navios Maritime Holdings (NM) published the company’s best-ever Q3 2021 results. Navios Maritime Holdings (NM) cleared away most of the $769 million in maturities. Navios Maritime Holdings (NM) is settling down about $456 million of the loans coming due in January 2021. The usage of convertible debentures in the deal raised the concerns of dilution risks. Navios Maritime Holdings (NM) might not be able to find bankers keen to place cash into a company with a heavy debt overhang. 16-December-2021

 

Newly Merged New York-listed Navios Maritime Partners and Navios Maritime Acquisition may generate tremendous profits in soaring shipping markets. In August 2021, Navios Maritime Partners and Navios Maritime Acquisition merged to bring together bulk carriers with tankers. The merger has a fleet of 143 ships that has a value of around $4 billion. In December 2020, New York-listed Navios Maritime Partners acquired another sister company Navios Containers with a fleet of 33 containerships. Navios Maritime Partners has built a peerless blend of range and diversification as the largest US-listed shipping company. Angeliki Frangou-led Navios Maritime Holdings (NM) assume that this organization should result in a stronger, more flexible entity, moderating sector-specific cyclicality. Furthermore, Navios Maritime Holdings (NM) can capitalize on opportunities throughout the shipping markets. 21-October-2021

 

Angeliki Frangou-led Navios Maritime Holdings (NM) subsidiary company Grimaud Ventures sold $31 million worth of shares in its parent to lower debt. New York-listed Navios Maritime Holdings (NM) used $20 million to reduce the outstanding debt amount to $165 million. In September 2021, Navios Maritime Holdings (NM) had bought back another $20 million of the bonds. Previously, Navios Maritime Holdings (NM) subsidiary company Grimaud Ventures was holding 9.3 million Navios Maritime Holdings (NM) shares. Grimaud Ventures received 9.3 million Navios Maritime Holdings (NM) shares as part of a settlement for a $70 million loan from Navios South American Logistics (NSAL). Grimaud Ventures was a subsidiary of Navios South American Logistics (NSAL). Market players anticipate more sales going forward to support Navios Maritime Holdings (NM). New York-listed Navios Maritime Holdings (NM) has $477 million priority mortgage notes coming due in January 2021. At the beginning of September 2021, New York-listed Navios Maritime Holdings (NM) spinoff Navios Maritime Partners published that the company was taking over tanker owner Navios Maritime Acquisition. Currently, Navios Maritime Holdings (NM) owns 25 bulk carriers. 14-September-2021

 

New York-listed Navios Maritime Partners sold 2005 built panamax bulk carrier 74K DWT MV Navios Azalea. Angeliki Frangou-led Navios Maritime Partners sold MV Navios Azalea for around $13 million. In 2019, Navios Maritime Partners acquired MV Navios Azalea from Angeliki Frangou’s brother John Angeliki Frangou controlled Irika Shipping for around $10 million. MV Navios Azalea belonged to Irika Shipping, a defunct company controlled by Angeliki Frangou’s brother John Angeliki Frangou. 16-July-2021

 

New York-listed Navios Maritime Holdings (NM) has secured a $75 million loan from Angeliki Frangou’s N Shipmanagement Acquisition to pay off the company’s $305 million notes due in 2022. In 2017, Navios Maritime Holdings (NM) secured a debt of $896 million at a coupon of 11.25%. Navios Maritime Holdings (NM) has $896 million of debt maturing on 1 March 2022 with $63 million more due in 2023 and $46 million the year in 2024. The notes are secured by a priority lien on stock owned by subsidiaries that are guarantors such as Navios GP, Navios Maritime Acquisition, Navios South American Logistics, and Navios Maritime Partners. Furthermore, 2009 built capesize bulk carrier 179K DWT MV Navios Azimuth is also pledged as security. Angeliki Frangou loaned $100 million to group company Navios Acquisition for working capital earlier in 2021. New York-listed Navios Maritime Holdings (NM) announced that the company is striving to generate extra liquidity to finance the working capital requirements through the sale of assets, refinancing schemes, and an initial public offering (IPO) of Navios Logistics. New York-listed Navios Maritime Holdings (NM) assumes the company will generate enough cash to make the imperative principal and interest payments on its borrowings, excluding the maturity payments, till 2022. 14-June-2021

 

New York-listed Navios Maritime Holdings (NM) reported net earnings of $163K in Q1 2021. Navios Maritime Holdings (NM) reported revenue of $117 million in Q1 2021. Navios Maritime Holdings (NM) reported a Time Charter Equivalent (TCE) of $14,404 per day per ship in Q1 2021. Previously, Navios Maritime Partners acquired three (3) bulk carriers ahead of merger with a subsidiary container company Navios Maritime Containers. In March 2021, Navios Maritime Holdings (NM) sold 2012 built kamsarmax bulk carrier 81K DWT MV Navios Centarus and 2012 built kamsarmax bulk carrier 81K DWT MV Navios Avior. Furthermore, Navios Maritime Holdings (NM) sold 2006 built supramax bulk carrier 53K DWT MV Navios Astra and 2011 built handy bulk carrier 34K DWT MV Navios Serenity. Angeliki Frangou-led Navios Maritime Holdings (NM) is optimistic about future dry bulk ship demand. Currently, New York-listed Navios Maritime Holdings (NM) owns 15 capesize, 23 panamax, 4 supramax, and 1 handysize bulk carrier. 29-May-2021

 

New York-listed Navios Maritime Holdings plans to cope with $782 million of debt due in 2022 by selling ships and preparing refinancing programs. Navios Maritime Holdings plans to generate additional liquidity to finance working capital requirements through the sale of ships and refinancing programs. Navios Maritime Holdings reported a net loss of $94 million for Q4 2020. Furthermore, Navios Maritime Holdings reported a net loss of $193 million for full-year 2020. According to Navios Maritime Holdings, poor dry bulk shipping markets over much of 2020 depressed revenues. Additionally, Angeliki Frangou-led Navios Maritime Holdings’ subsidiary Navios South American Logistics reported a revenue reduction due to warm weather and drought in parts of South America. Navios Maritime Holdings prepares to list Navios South American Logistics on the New York Stock Exchange. Navios Maritime Holdings owns 64% of Navios South American Logistics. Navios Maritime Holdings is positive about demand for dry bulk carriers in 2021. In 2020, Navios Maritime Holdings sold numerous vintage bulk carriers as part of a continuous fleet renewal programme. 20-April-2021

 

New York-listed Navios Maritime Holdings sold 2006 built supramax bulk carrier 53K DWT MV Navios Astra for around $7 million to Istanbul-based shipowner and operator. 9-February-2021

 

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