SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 1
Navios Maritime Holdings Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
029107823
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(CUSIP Number)
Golden Ocean Group Limited
Par-La-Ville Place
14 Par-La-Ville Road
Hamilton HM 08
Bermuda
(441)295-6935
With a copy to:
Gary J. Wolfe, Esq.
Seward & Kissel LLP
One Battery Park Plaza
New York, New York 10004
(212) 574-1200
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
June 19, 2008
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box [ ].
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP NO. 029107823 SCHEDULE 13D
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1. NAME OF REPORTING PERSON Golden Ocean Group Limited
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [x]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda
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7. SOLE VOTING POWER -0-
NUMBER OF ------------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,411,965
BENEFICIALLY
OWNED BY EACH -------------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,411,965
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,411,965
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4%
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14. TYPE OF REPORTING PERSON CO
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CUSIP NO. 029107823 SCHEDULE 13D
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1. NAME OF REPORTING PERSON Hemen Holding Limited
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* AF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Cyprus
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7. SOLE VOTING POWER -0-
NUMBER OF -------------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,411,965
BENEFICIALLY
OWNED BY EACH -------------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,411,965
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,411,965
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4%
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14. TYPE OF REPORTING PERSON CO
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CUSIP NO. 029107823 SCHEDULE 13D
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1. NAME OF REPORTING PERSON John Fredriksen
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Cyprus
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7. SOLE VOTING POWER -0-
NUMBER OF -------------------------------------------------------------
SHARES 8. SHARED VOTING POWER 1,411,965
BENEFICIALLY
OWNED BY EACH -------------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 1,411,965
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,411,965
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4%
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14. TYPE OF REPORTING PERSON IN
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CUSIP NO. 029107823 SCHEDULE 13D
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The purpose of this Amendment No. 1 to the Schedule 13D is to report a
reduction in beneficial ownership by the Reporting Persons of 3,863,180 common
shares of Navios Maritime Holdings Inc. (the "Issuer").
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Item 1. Security and Issuer
No material change from the Schedule 13D filed on December 1, 2008.
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Item 2. Identity and Background
No material change from the Schedule 13D filed on December 1, 2008.
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Item 3. Source and Amount of Funds or Other Consideration
No material change from the Schedule 13D filed on December 1, 2008.
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Item 4. Purpose of Transaction
No material change from the Schedule 13D filed on December 1, 2008.
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Item 5. Interest in Securities of the Issuer
(a), (b) According to the Issuer's Report on Form 6-K furnished to the U.S.
Securities and Exchange Commission on May 22, 2009, there were 100,225,217
shares of the Issuer's issued and outstanding common stock as of March 31, 2009.
Based on such information, the Reporting Persons report beneficial ownership of
the following shares of common stock:
Golden Ocean may be deemed to beneficially own 1,411,965 shares of the
Issuer's common stock, representing approximately 1.4% of the outstanding shares
of the Issuer's common stock. Golden Ocean has the sole power to vote 0 shares
of the Issuer's common stock and the shared power to vote 1,411,965 shares of
the Issuer's common stock. Golden Ocean has the sole power to dispose of 0
shares of the Issuer's common stock and the shared power to dispose of 1,411,965
shares of the Issuer's common stock.
Hemen may be deemed to beneficially own 1,411,965 shares of the Issuer's
common stock, representing approximately 1.4% of the outstanding shares of the
Issuer's common stock. Hemen has the sole power to vote 0 shares of the Issuer's
common stock and the shared power to vote 1,411,965 shares of the Issuer's
common stock. Hemen has the sole power to dispose of 0 shares of the Issuer's
common stock and the shared power to dispose of 1,411,965 shares of the Issuer's
common stock.
Mr. Fredriksen may be deemed to beneficially own 1,411,965 shares of the
Issuer's common stock, representing approximately 1.4% of the outstanding shares
of the Issuer's common stock. Mr. Fredriksen has the sole power to vote 0 shares
of the Issuer's common stock and the shared power to vote 1,411,965 shares of
the Issuer's common stock. Mr. Fredriksen has the sole power to dispose of 0
shares of the Issuer's common stock and the shared power to dispose of 1,411,965
shares of the Issuer's common stock.
None of the other persons named in response to Item 2 have the sole power
to vote or to direct the vote, the shared power to vote or direct the vote, the
sole power to dispose or to direct the disposition, or the shared power to
dispose or to direct the disposition of the shares of the Issuer's common stock
that are the subject of this Statement.
(c) Exhibit B annexed hereto lists all transactions not previously reported
in the shares of the Issuer's common stock during the past sixty days by the
Reporting Persons. All of such transactions were effected through authorized
brokers by Golden Ocean. None of the other Reporting Persons, and to the best of
the Reporting Persons' knowledge, none of the other persons named in response to
Item 2, were involved in any transactions in shares of the Issuer's common stock
during the past sixty days.
(d) No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, any of
the Issuer's common stock beneficially owned by the Reporting Persons.
(e) On June 19, 2009, the Reporting Persons ceased to be beneficial owners
of more than five percent of the Issuer's common stock.
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Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
No material change from the Schedule 13D filed on December 1, 2008.
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Item 7. Material to be Filed as Exhibits
Exhibit A - Joint Filing Undertaking.
Exhibit B - Transactions in the Issuer's common stock by Golden Ocean Group
Limited.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: June 24, 2009
Golden Ocean Group Limited
By: /s/ Herman Billung
------------------------
Name: Herman Billung
Title: Acting Principal Executive Officer
HEMEN HOLDING LIMITED
By: /s/ Dimitris Hannas
------------------------
Name: Dimitris Hannas
Title: Director
JOHN FREDRIKSEN
By: /s/ John Fredriksen
-------------------
Name: John Fredriksen
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby executes this agreement
as an exhibit to this Schedule 13D with respect to the shares of common stock of
Navios Maritime Holdings Inc. to evidence the agreement of the below-named
parties, in accordance with the rules promulgated pursuant to the Securities
Exchange Act of 1934, as amended, to file this Amendment No. 1 to Schedule 13D
jointly on behalf of each such party.
Dated: June 24, 2009
Golden Ocean Group Limited
By: /s/ Herman Billung
------------------------
Name: Herman Billung
Title: Acting Principal Executive Officer
HEMEN HOLDING LIMITED
By: /s/ Dimitris Hannas
------------------------
Name: Dimitris Hannas
Title: Director
JOHN FREDRIKSEN
By: /s/ John Fredriksen
-------------------
Name: John Fredriksen
Exhibit B
TRANSACTIONS IN THE ISSUER'S COMMON STOCK BY GOLDEN OCEAN GROUP LIMITED
Date of Transaction Number of Shares Price per share
Purchased/(Sold)
June 8, 2009 (250,000) $4.82
June 19, 2009 (3,490,512) $4.50
June 23,2009 (122,668) $4.00
SK 25875 0003 1006874 v2