Tanker Operator Navios Acquisition reports on first quarter ended March 31, 2021 tankeroperator.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tankeroperator.com Daily Mail and Mail on Sunday newspapers.
Navios Maritime Acquisition Corporation Endures “Another Hard Quarter Since the Start of the Pandemic”
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the first quarter ended March 31, 2021.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “I am pleased with our results for the first quarter of 2021, another hard quarter since the start of the pandemic. During the first quarter of 2021, Navios Acquisition reported $72.5 million of revenue and $29.1 million of Adjusted EBITDA. While the current market remains difficult, prospects are positive. The IMF projects 2021 global GDP to grow by a virtually unprecedented 6%, and we have experienced modest recovery in the product tanker sector.”
Navios Partners
Post-merger: NM owns 12.6%
$36.2 million debt reduction in Q1 2021
Navios Maritime Holdings Inc. (“Navios Holdings” or “the Company”) (NYSE: NM), a global seaborne shipping and logistics company, today reported financial results for the fourth quarter and year ended December 31, 2020.
Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am pleased with the results for the fourth quarter and full year of 2020. For the full year of 2020, Navios Holdings reported revenue of $416.7 million and adjusted EBITDA of $153.4 million. For the fourth quarter, Navios Holdings reported revenue of $102.4 million and adjusted EBITDA of $37.6 million.”
Angeliki Frangou continued, “Fiscal stimulus and other policy measures have propelled global economic recovery into 2021. The IMF expects global GDP to grow by 6.0% in 2021, the highest GDP growth in the past 50 years. Mass inoculation programs are underway, facilitating a return to normalcy. Consequent
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Navios Maritime Holdings Inc. Reports Financial Results for the Fourth Quarter and Year Ended .
Navios Maritime Holdings, Inc.April 21, 2021 GMT
MONACO, April 21, 2021 (GLOBE NEWSWIRE)
Revenue
$102.4 million for Q4 2020
Cash provided by/(used in) operating activities
$25.2 million for FY 2020
$(10.1) million for Q4 2020
Adjusted EBITDA
$37.6 million for Q4 2020
Navios Partners
Post-merger: NM owns 12.6%
$36.2 million debt reduction in Q1 2021
Navios Maritime Holdings Inc. (“Navios Holdings” or “the Company”) (NYSE: NM), a global seaborne shipping and logistics company, today reported financial results for the fourth quarter and year ended December 31, 2020.
Apr 15 2021 Navios Maritime Acquisition Corporation (“Navios Acquisition” or the “Borrower”), an owner and operator of tanker vessels, announced that Navios Acquisition entered into a secured loan agreement with a subsidiary of N Shipmanagement Acquisition Corp. (“Lender”), an entity affiliated with Navios Acquisition’s Chairman and Chief Executive Officer, for a loan of up to $100.0 million to be used for general corporate purposes (the “Loan”). The Loan has a term of two years, scheduled amortization and bears interest at a rate of 11% per annum, payable quarterly. The Borrower may elect to defer all scheduled amortization and interest payments, in which case the applicable interest rate is 12.5% per annum.