Navios Maritime Holdings Inc. Sells Two Drybulk Vessels

Monaco, Oct. 01, 2020

Navios Maritime Holdings Inc. (“Navios Holdings”) (NYSE:NM), announced today that it sold the Navios Gem, a 2014-built Capesize vessel of 181,336 dwt, and the Navios Victory, a 2014-built Panamax vessel of 77,095 dwt, to Navios Maritime Partners L.P. (“Navios Partners”) (NYSE:NMM) for a sale price of $51.0 million, subject to working capital adjustments.

Part of the sale proceeds were used for the prepayment of the $33.0 million outstanding bank debt of the two vessels.

The transaction was approved by the independent directors of the Board of Directors of Navios Holdings.

Following the sale, Navios Holdings controls a fleet of 49 vessels, of which 16 are Capesize vessels, 26 are Panamaxes, five are Ultra-Handymaxes and two are Handysizes.

About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NYSE:NM) is a global seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com.

Navios Maritime Holdings Inc. press release