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Navios: Bulk market as difficult as ever existed

The dry bulk downturn hit Navios Maritime Holdings' result and revenue in 2015, which became "as difficult a market as ever existed in shipping", notes CEO. But the carrier sees positive developments ahead.

Photo: Navios Maritime Holdings

Greek-based Navios Maritime Holdings, like scores of competitors in the extremely low dry bulk market, finished 2015 with a reduced revenue and a bigger deficit than in the year before.

The dry bulk carrier's losses grew to an adjusted net deficit of USD 134.1 million in 2015 against a deficit of USD 56.2 million the year before, while revenue went down as well and finished at USD 480.8 million compared to USD 569.0 million in 2014, according to Navios Maritime Holdings' unaudited annual report.

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