ShippingWatch

Navios Holdings in 3rd quarter decline

Greek shipping and logistics company Navios Holding experienced a decline on all fronts in the 3rd quarter, though the company still describes the quarter as solid with an operating result (EBITDA) of USD 40.6 million.

Photo: /ritzau/Thomas Borberg

Navios Holdings, which operates both a dry bulk carrier as well as logistics activities, declined on virtually all fronts in the third quarter this year, compared to the same quarter 2012. The company finished the quarter with a deficit of USD 13 million, an operating profit (EBITDA) of USD 40.6 million, and USD 122.3 million in revenues, according to the interim report. The same items in 2012 came to USD 4.6 million, USD 60.8 million, and USD 164 million, respectively.

In spite of this development, Chairman and CEO Angeliki Frangou is pleased with the result:

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Stolt-Nielsen reports best quarterly profit in years

Norwegian Stolt-Nielsen, which has acquired shares in competitor Odfjell, benefitted from higher volumes and spot rates in the chemical tanker market and predicts further improvement in the market. The company is, however, not quite ready for ordering newbuilds.

Skuld opens new office in Tokyo

Skuld is to open a Japanese branch located in Tokyo. To lead the division, Skuld recruits former deputy general manager from Japan P&I Club.

Further reading

Related articles

Latest news

See all jobs