Navios Maritime Holdings Inc. (NM)

[EZ2]

NM ~~~ Press Release Source: Navios Maritime Holdings

Navios Maritime Holdings Inc. Announces Three New Time Charters
Tuesday May 27, 7:00 am ET

PIRAEUS, Greece, May 27 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings" or "the Company") (NYSE: NM - News), a large, global, vertically integrated seaborne shipping and logistics company, announced today that it has secured new time charters for three vessels.


Ms. Angeliki Frangou, Chairman and CEO of Navios Holdings, stated, "We are pleased to announce today that we have chartered-out three vessels for rates and periods substantially in excess of their prior charters. Our continued ability to charter vessels to first-class counterparties illustrates our reputation for reliability."

The details for each of the charters are as follows:

Navios Hyperion - Five-Year Charter

The Navios Hyperion, a 75,707 dwt Panamax vessel built in 2004, has been chartered-out for five years, commencing within the period of March 1st through June 15th, 2009. The net daily charter-out rate will be $37,050, which compares favorably to the vessel's expiring two year charter-out rate of $26,268 net per day.

Navios Mercator - Five-Year Charter

The Navios Mercator, a 53,553 dwt Ultra-Handymax vessel built in 2002, has been chartered-out for five years, commencing February 12, 2009. The net daily charter-out rate will be $31,350, which compares favorably to the vessel's expiring three year charter-out rate of $19,950 net per day.

Navios Orbiter - Five-Year Charter

The Navios Orbiter, a 76,602 dwt Panamax vessel built in 2004, has been chartered-out for five years, commencing within the period March 1st through June 15th, 2009. The net daily charter-out rate will be $37,147, which compares favorably to the vessel's expiring two year charter-out rate of $24,700 net per day.

Fleet Coverage

As a result of these new charters, Navios Holdings has extended the coverage of its core fleet (excluding the Kleimar fleet) to 98.6% for 2008, 66.7% for 2009, 37.9% for 2010 and 24.1% for 2011.

About Navios Maritime Holdings Inc.

Navios Maritime Holdings Inc. 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.

Navios Holdings may, from time to time, be required to offer certain owned Capesize and Panamax vessels to Navios Maritime Partners L.P. for purchase at fair market value according to the terms of the Omnibus Agreement.

For more information about Navios Holdings please visit our website: http://www.navios.com.

Forward Looking Statements - Safe Harbor

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' growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. 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 expected revenues and time charters. 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. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which Navios Holdings operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings' filings with the Securities and Exchange Commission. 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.


Public & Investor Relations Contact:
Navios Maritime Holdings Inc.
Investor Relations
+1.212.279.8820
[e-mail]




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Source: Navios Maritime Holdings