Navios Maritime Holdings led-by Angeliki Frangou, as the Chairwoman and Chief Executive Officer of the company, completed last year the $835.0 million sale of its 36-vessel drybulk fleet, in a major deal, and used the proceeds to pay down $784.2 million of debt.
The transaction closed in two tranches. The first tranche, involving the sale of 15 vessels, was completed on July 29, 2022, and the second tranche, involving the sale of the remaining 21 vessels, was completed on September 8, 2022.
Now Navios Holdings is focused on growing Navios South American Logistics, one of the largest infrastructure and logistics companies in the Hidrovia region of South America, as the company believes that the global macro conditions “support healthy growth in the Hidrovia region.”
Angeliki Frangou, said during the company´s financial announcement that “In 2022, we exited international shipping and are now focused on growing Navios South American Logistics, a transportation and infrastructure provider in the Hidrovia region of South America. We believe that the global macro conditions support healthy growth in the Hidrovia region, and are focusing on maximizing the return from assets by offering innovative logistics solutions.”
Angeliki´s Frangou Navios Holdings revealed in its fourth-quarter financial report for the year 2022 that the company had a net income of $87.3 million, and an Ebitda of $355.1 million.
The company also has an interest in the New-York listed Navios Maritime Partners, a leading United States publicly listed shipping company that owns and operates dry cargo and tanker vessels, which recently has agreed to sell 11 vessels for approximately $214 million.
The shipowner Navios Maritime Partners has also agreed to buy from an unrelated third party, the Capesize vessel “Navios Felix,” a previously chartered-in 2016-built scrubber-fitted Capesize of 181,221 deadweight, for a contract price of approximately $40.7 million, with final payment to be determined on the actual delivery date of the vessel. The delivery of the vessel is expected within the first quarter of 2023. This acquisition follows the deals of Navios Maritime Partners in December 2022, to acquire two newbuilding Japanese MR2 Product Tanker vessels from an unrelated third party, under bareboat contracts.