SOURCE: Navios Maritime Holdings Inc.

Navios Maritime Holdings Inc.

October 01, 2013 09:11 ET

Navios Maritime Holdings Inc. Announces Delivery of Two Panamax Vessels

MONACO--(Marketwired - Oct 1, 2013) - Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, announced today that two Panamax vessels were delivered to Navios Holdings' owned fleet.

The Navios Taurus a 2005-built Panamax vessel of 76,596 dwt was delivered to Navios Holdings' owned fleet on September 17, 2013. The vessel is chartered-out for approximately six months at a rate of $9,263 net per day.

The Navios Northern Star a 2005-built Panamax vessel of 75,395 dwt was delivered to Navios Holdings' owned fleet on September 19, 2013. The vessel is chartered-out for approximately seven months at a rate of $11,400 net per day.

Fleet Update
Following the delivery of the Navios Taurus and the Navios Northern Star, Navios Holdings has 52 vessels in the water.

Navios Holdings has contracted 92.7% and 25.1% of its available days on a charter-out basis for 2013 and 2014, respectively.

About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE: NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com.

Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Holdings' subsidiaries. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding completion of the offering. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings, including market conditions. Actual results may differ materially from those expressed or implied by such forward-looking statements. Navios Holdings expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Holdings' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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