Navios suspends dividends in tough bulk market

The dry bulk market continues to pose a challenge for carriers. Navios Maritime Holdings suffered yet another deficit with revenue under pressure, and the carrier suspends dividends to instead launch a share buy-back program.

The tough dry bulk market is driving down revenue at Greek carrier Navios Maritime Holdings, which suffered a setback in the third quarter. Revenue fell to USD 130.1 million from USD 152.6 million in the same quarter of 2014. The result also decreased to a net loss of USD 22.1 million for the third quarter against a net loss of USD 16.6 million for the same period last year, according to the carrier's third quarter results.

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