SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 6-K
REPORT OF FOREIGN PRIVATE
ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES
EXCHANGE ACT OF 1934
Dated: March 1, 2007
Commission File No. 000-51047
NAVIOS MARITIME HOLDINGS INC.
85 Akti Miaouli Street, Piraeus, Greece 185
38
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes No X
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes No X
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
New Long-Term Time Charters for Two Panamaxes – Navios Hyperion and Navios Orion
On March 1, 2007, Navios announced it has secured two new long-term time charters for two panamaxes, the Navios Hyperion and Navios Orion. A copy of the press release is furnished as Exhibit 99.1 to this Report and is incorporated herein by reference. This information regarding the long-term charters is hereby incorporated by reference into the Navios Registration Statements on Form F-3, File Nos. 333-136936 and 333-129382.
Earnings Call
On March 5, 2007 Navios issued a press release announcing it would hold an investor conference call on Thursday March 8, 2007, at 8:30am EST, to provide highlights of the fourth quarter and full year 2006 operating results. A copy of the press release is furnished as Exhibit 99.2 to this Report and is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
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NAVIOS MARITIME HOLDINGS INC. |
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By: /s/ Angeliki
Frangou
Angeliki Frangou Chief Executive Officer Date: March 5, 2007 |
EXHIBIT INDEX
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| Exhibit No. | |
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Exhibit |
| 99.1 | |
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Press Release dated March 1, 2007 |
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PRESS RELEASE
FINAL – FOR DISTRIBUTION
Navios Maritime Holdings
Inc.Announces
New Long-Term Time Charters for Two
Panamaxes — Navios Hyperion and Navios
Orion
Company Also Announces Delivery of the Navios Hyperion to Navios’s Owned Fleet
PIRAEUS, Greece, March 1, 2007 /PRNewswire – FirstCall/ – Navios Maritime Holdings Inc. (‘‘Navios’’) (NYSE: NM, NW WS), a large, global, vertically integrated seaborne shipping company, announced today that it has secured two new favorable time charter contracts.
For the 2004-built panamax Navios Hyperion, a 24-month charter commenced February 26, 2007, at a net rate of $26,268 per day, replacing a charter at a rate of $15,400 per day. For the 2005-built Navios Orion, a 24-month charter commenced March 1, 2007, at net rate of $27,312 per day, replacing a charter at a rate of $21,175.
In a related development, Navios announced that it had taken delivery of the Navios Hyperion into its owned fleet on February 26, 2007. The purchase option price for this vessel was approximately $20.2 million. Navios Hyperion’s current market value is estimated at $50.5 million. This new delivery brings the total owned fleet to 21 vessels (one capesize, nine panamaxes, ten ultra-handymaxes and one product tanker).
‘‘We continue to see a strong rate environment in the drybulk sector as well as demand for our young, high-quality vessels,’’ said Ms. Angeliki Frangou, Chairman and CEO of Navios. ‘‘These charters are at significantly higher rates than the vessels’ previous employment and will support our primary goals of generating stable cash flow and enhancing shareholder value.’’
As a result of these charters, Navios has extended the coverage of its core fleet (excluding vessels acquired through the Kleimar N.V. transaction) to 84% for 2007, 50% for 2008 and 11% for 2009.
Navios currently controls 45 vessels, of which 21 are owned and 24 are chartered-in. Of the 24 chartered-in vessels, 15 are currently operating, and nine are still to be delivered. Navios holds ten purchase options on the 24 chartered-in vessels, six on operating vessels, and four on the vessels still to be delivered. All of these purchase options are for exercise prices below the related vessel’s current market value.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. is a large, global, vertically integrated seaborne shipping company transporting a wide range of drybulk commodities including iron ore, coal and grain. For over 50 years, Navios has worked with raw materials producers, agricultural traders and exporters, industrial end-users, ship owners, and charterers. Navios also owns and operates a port/storage facility in Uruguay and has in-house technical ship management expertise. Navios maintains offices in Piraeus, Greece, South Norwalk, Connecticut and Montevideo, Uruguay as well as the Kleimar office in Antwerp, Belgium.
Navios’s stock is listed on the NYSE where its Common Shares and Warrants trade under the symbols ‘‘NM’’ and ‘‘NM WS’’, respectively.
Risks and uncertainties are described in reports filed by Navios Maritime Holdings Inc. with the United States Securities and Exchange Commission.
Safe Harbor
This press release may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Maritime Holdings Inc. (Navios). Forward looking statements are statements that are not historical facts. Such forward looking statements, based upon the current beliefs and expectations of Navios’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The information set forth herein should be read in light of such risks. Navios does not assume any obligation to update the information contained in this press release.
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Public
& Investor Relations Contact: Navios Maritime Holding Inc. Investor Relations 212 – 279-8820 investors@navios.com |
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FINAL: FOR RELEASE
Navios Maritime Holdings Inc to Hold
Investor Conference Call
Providing Fourth Quarter and Year-End
2006 Earnings Results
Piraeus, Greece — (March 5, 2007) — Navios Maritime Holdings Inc. (‘‘Navios’’) (NYSE: NM) announced today that it would hold a conference call on Thursday, March 8, 2007, at 8:30 am EST, at which time members of senior management will provide highlights of the fourth quarter and full year 2006 operating results.
A supplemental slide presentation will be available on the Navios website at www.navios.com under the ‘‘Investors’’ section at 7:45 am EST on the day of the call.
The conference call details are as follows:
Call Date/Time: Thursday, March 8, 2007; 8:30 am EST
Call Title: Navios Maritime Holdings Inc. Q4 2006 Earnings Conference Call
US Dial In: +1.888.694.4676
International Dial In: +1.973.582.2737
Passcode: 8509484
The conference call replay will be available for one week after the call at the following numbers:
US Replay Dial In: +1.877.519.4471
International Replay Dial In: +1.973.341.3080
Passcode: 8509484
This call will be simultaneously Webcast at the following Web address:
http://www.videonewswire.com/event.asp?id=38210
The Webcast will be archived and available at this same Web address for one year following the call.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. is a large, global, vertically integrated seaborne shipping company transporting a wide range of drybulk commodities including iron ore, coal and grain. For over 50 years, Navios has worked with raw materials producers, agricultural traders and exporters, industrial end-users, ship owners, and charterers. Navios also owns and operates a port/storage facility in Uruguay and has in-house technical ship management expertise. Navios maintains offices in Piraeus, Greece; South Norwalk, Connecticut; Montevideo, Uruguay and Antwerp, Belgium.
Navios’s stock is listed on the NYSE where its Common Shares and Warrants trade under the symbols ‘‘NM’’ and ‘‘NM WS’’, respectively.
Risks and uncertainties are described in reports filed by Navios Maritime Holdings Inc. with the United States Securities and Exchange Commission.
Safe Harbor
This press release may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Navios Maritime Holdings Inc. (Navios). Forward looking statements are statements that are not historical facts. Such forward looking statements, based upon the current beliefs and expectations of Navios’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The information set forth herein should be read in light of such risks. Navios does not assume any obligation to update the information contained in this press release.
Public &
Investor Relations Contact:
Navios Maritime Holding
Inc.
Investor
Relations
+1.212.279.8820
investors@navios.com
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